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)

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Brazilian Banco Inter shareholders approve Reuters listing on Nasdaq Brazilian Banco Inter shareholders approve Reuters listing on Nasdaq

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