Business & Investment

Brazilian Banco Inter shareholders approve Reuters listing on Nasdaq

© Reuters.

By Tatiana Bautzer and Gram Slattery

Sao Paulo / Rio de Janeiro (Reuters)-Banco Inter SA shareholders have approved the transfer of the listing from the Brazilian stock exchange B3 to the US-based Nasdaq, a Brazilian bank said in a securities filing Thursday.

Banco Inter shareholders will be able to monetize their shares or receive Brazilian depositary receipts that may be converted into Class A shares traded on Nasdaq. According to Banco Inter Chief Financial Officer Helena Cardeira, the deadline for conversion or cashout options is December 2.

In an interview with Reuters, Mr. Cardeira said banks expect shareholders to demand the monetization of R $ 2 billion ($ 359.3 million) worth of Banco Interunits. If the amount is high, the bank may confirm the transaction and lower the cashout price.

Banco Inter will pay R $ 45.84 for each unit that shareholders decide to cash out. This is a premium 22% higher than Thursday’s closing price.

Banks decided to move their major listings to the United States in a previous statement Thursday to “increase access to global capital markets and potentially build a larger and more diverse investor base.” bottom.

The listing on Nasdaq is expected to take effect on December 28, Caldeira added.

($ 1 = 5.5664 real)

Disclaimer: Fusion media We inform you that the data contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indexes, futures) and forex prices are provided by the market maker, not the exchange, so prices may not be accurate and may differ from actual market prices. In other words, price is an indicator and is not suitable for trading purposes. Therefore, Fusion Media is not responsible for any transactional losses that may occur as a result of using this data.

Fusion media Alternatively, anyone involved in Fusion Media will not be liable for any loss or damage resulting from reliance on the data, quotes, charts, trading signals and other information contained on this website. Be fully informed about the risks and costs associated with financial market transactions. This is one of the most risky forms of investment possible.

Brazilian Banco Inter shareholders approve Reuters listing on Nasdaq

https://www.investing.com/news/stock-market-news/shareholders-in-brazils-banco-inter-approve-nasdaq-listing-2690473 Brazilian Banco Inter shareholders approve Reuters listing on Nasdaq

Back to top button