Justine Lau-Financial Times, 10/07/09
Santander of Spain, the eurozone’s biggest bank by market capitalisation, has raised just over $8bn from the listing of its Brazilian subsidiary in the world’s largest initial public offering this year.
The lender announced on Tuesday that it had sold 600m shares at R$23.5 per unit, in the middle of an indicative price range of R$22 to R$25, according to agencies. The bank, which filed to sell 525m units, said the dual São Paulo and American Depositary Receipts offering raised $8.05bn and included an over-allotment of 75m units.
According to Reuters, the bank said it would book €1.43bn ($2.10bn) in capital gains from the offering.
Brazil Portal 