Banco Santander Brazil IPO

By REUTERS (October 8, 2009)

The article notes:

  • Banco Santander’s Brazilian unit raised raised 14.1 billion reais , or $8.05 billion in a record initial public offering in Brazil and the largest I.P.O. on a U.S. exchange in 18 months.
  • The I.P.O. was the largest ever for a Brazilian company, beating the offering by credit card processor VisaNet in June and the biggest in the world since Visa Inc.’s offering in March 2008.
  • The Brazilian unit has emerged as one of the most profitable parts of Santander, accounting for 20 percent of its net income in the first half of 2009.
The Financial Times provides a few more details here.

It looks like Shearman & Sterling represented the underwriters.  Press release here.
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2 responses to “Banco Santander Brazil IPO

  1. I plan on leaving some money behind in the country for Banco Santander to count when I come to visit you next week, Alex. I’m pleased to see the recognition by the international financial community about the impact of the Brazilian banking institutions.

  2. http://www.thestreet.com/story/10608058/an-etf-play-on-the-santander-ipo.html
    This article has the broader perspective on the Spanish parent company. But it’s brief. Makes me want to do more web research .

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