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Spanish bank seeks funds in Brazil
Source: Agencies |
September 22, 2009, Tuesday
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Print Edition
Print Edition
SPAIN'S largest bank, Santander, said yesterday it plans to list 16.2 percent of its Brazilian Banco Santander (Brasil) SA.
The shares are expected to be offered at between 22 and 25 Brazilian reals (US$12.18-US$13.84) each, bringing the total value of the deal to between 11.550 and 13.125 billion reals.
The final price for the share offer is expected to be set on October 6, and the new shares are scheduled to start trading on the New York Stock Exchange on October 7 and on the Sao Paulo exchange on October 8.
Santander Brasil will have a free-float of at least 15.6 percent after the listing operation is completed, the bank said.
Santander shares were down 0.14 percent at 11.04 euros (US$1.62) in early trading.
The shares are expected to be offered at between 22 and 25 Brazilian reals (US$12.18-US$13.84) each, bringing the total value of the deal to between 11.550 and 13.125 billion reals.
The final price for the share offer is expected to be set on October 6, and the new shares are scheduled to start trading on the New York Stock Exchange on October 7 and on the Sao Paulo exchange on October 8.
Santander Brasil will have a free-float of at least 15.6 percent after the listing operation is completed, the bank said.
Santander shares were down 0.14 percent at 11.04 euros (US$1.62) in early trading.
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