Banco Santander Brasil Has Our Attention
This upcoming IPO has room to grow in Brazil's lucrative banking market.
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Let's step away from the busy IPO market to focus on one heading our way in a few weeks. Banco Santander Brasil will attempt to raise between 11.55 billion and 13.12 billion reals, or roughly $7 billion, offering 525 million shares. The offer price will be finalized on Oct. 6, with the ADRs trading the following day. Morningstar equity analyst Maclovio Pina is intrigued by the offering, and gives us some background on this high-interest IPO.
Bill Buhr does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.