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FINANCIAL NEWS
Qatar Investment Authority sells USD737mn share in Brasil Santander
07 Apr 2017
(MENAFN) Qatar Investment Authority sold almost 2.5 percent of Banco Santander Brasil SA for USD737mn in an offering after banks exercised an option to buy additional units.
Moreover, investors paid 25 reais each for the 80mn units offered, as well as for the extra allotment of 12mn units, as stated the bank to the Brazilian market regulator.
In addition, QIA and banks underwriting the deal suggested a price of 27 reais per unit, while investors baulked at the price and pushed for a lower level.
Meanwhile, the units shed as much as 5.2 percent, falling to 26.13 reais, the lowest since late December.
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