SAO PAULO: XP Inc, Brazil’s largest brokerage by equity-trading volume, raised US$1.96bil in its US initial public offering (IPO), pricing its shares above the marketed range.
The company and its existing shareholders sold 72.5 million shares for US$27 each after offering them for US$22 to US$25, according to a statement. That gives XP a market value of about US$14.9bil based on the outstanding shares listed in its filings with US Securities and Exchange Commission.
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