Brazil's XP files for share offering, sees second quarter profit doubling
Reuters
Published Jun 29, 2020 06:02PM ET
SAO PAULO (Reuters) - Brazilian brokerage firm XP Inc (O:XP) filed on Monday for a secondary share offering, saying its second-quarter profit is likely to double from a year earlier, according to a securities filing.
Private equity firm General Atlantic LLC e XP Controle Participacoes will sell 19,535,420 class A common shares in the offering, the broker said.
The move comes roughly six months after XP debuted on Nasdaq in a much-anticipated initial public offering, when its shares were priced at $27. Since then, shares have risen more than 60%.
XP also said it is likely to post a second-quarter profit between 420 million reais and 520 million reais, up from 228 million reais a year ago, as net inflows from clients have accelerated.
Investment banking units of Morgan Stanley (NYSE:MS), Goldman Sachs (NYSE:GS) and JPMorgan Chase (NYSE:JPM) will manage the offering.
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Written By: Reuters
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