In order to raise a lot of money, the Brazilian unit of Santander announces an initial public offering, equivalent to an IPO (Initial Public Offering of shares).
The primary objective is to raise about 200 million U.S. dollars. That is what appears from a statement to the Securities Commission of the United States.
The offer will be conducted through the Stock Exchange of St. Paul. The shares will be offered in the bag and also listed on Wall Street.
The coordination of operations will be undertaken by Santander Investment and Credit Suisse.
For its size, the subsidiary of Santander in Brazil is the third private bank in Brazil. In total it is estimated that the bank has 153,820 million in assets.
Analysts estimated that this output to the bag will be one of the major outputs of the year worldwide.
At first instance it is thought that the money would be used to enhance the growth of the institution in the Brazilian market.
It goes without saying that the shares are likely to have a good reception among the public.