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MarketScreener Homepage  >  Equities  >  Nasdaq  >  XP Inc.    XP   KYG982391099

XP INC.

(XP)
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XP : Brazilian digital bank Modalmais files for $270 mln IPO

04/08/2021 | 12:28pm EDT

SAO PAULO, April 8 (Reuters) - Brazilian digital bank Modalmais has set the price range for its initial public offering, expected to reach around 1.5 billion reais ($270 million).

The amount considers the pricing in the middle of the range, that was set between 24.30 and 32.82 reais for each unit. Modal plans to sell 51 million units, comprised of two preferred shares and one common share each.

Modalmais competes with online brokers focused on catering to Brazilian investors such as XP Inc.

Depending on demand, the total amount of units may rise to 68.85 million with overallotments. The company will be listed under the ticker MODL11.SA and pricing is expected for April 28.

The IPO will be managed by the investment banking units of Credit Suisse Group AG, Bank of America and Itau Unibanco Holding SA. ($1 = 5.5747 reais) (Reporting by Tatiana Bautzer Editing by Chris Reese)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION 0.11% 40.04 Delayed Quote.31.94%
XP INC. -1.97% 38.255 Delayed Quote.-1.66%
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Financials (USD)
Sales 2021 2 047 M - -
Net income 2021 451 M - -
Net cash 2021 2 499 M - -
P/E ratio 2021 47,2x
Yield 2021 0,79%
Capitalization 21 809 M 21 809 M -
EV / Sales 2021 9,43x
EV / Sales 2022 6,95x
Nbr of Employees -
Free-Float 24,0%
Chart XP INC.
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Technical analysis trends XP INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Average target price 50,38 $
Last Close Price 39,01 $
Spread / Highest target 56,4%
Spread / Average Target 29,1%
Spread / Lowest Target 2,54%
EPS Revisions
Managers and Directors
NameTitle
Guilherme Benchimol Chairman & Chief Executive Officer
Bruno Constantino A. dos Santos Chief Financial Officer & Independent Director
Thiago Maffra Chief Technology Officer
Guilherme Sant’Anna Monteiro da Silva Independent Director
Bernardo Amaral Botelho Director
Sector and Competitors