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.