Macroeconomy/Finance

Brazil XP’s Valued at $14.9 Billion as IPO Tops Target Range

XP Inc., Brazil’s largest brokerage by equity-trading volume, raised $1.96 billion in its U.S. initial public offering, pricing its shares above the marketed range. The company and its existing shareholders sold 72.5 million shares Tuesday for $27 each after offering them for $22 to $25, according to a statement. That gives XP a market value of about $14.9 billion based on the outstanding shares.

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Source: Bloomberg

Categories: Macroeconomy/Finance