Material Fact: Sale of shares - XP

Rhea-AI Summary

Itaú Unibanco announced the sale of 4.4% of XP Inc.'s capital stock through a public offering on Nasdaq, totaling US$ 935 million. Following a potential green shoe exercise, the transaction could reach US$ 1.052 billion, representing 5% of XP's capital. This sale results in Itaú Unibanco holding 41.1% of XP's total capital, which will adjust to 40.5% post-green shoe. This transaction will impact Itaú's fiscal results for the current year.

Positive

• Raised US$ 935 million from the sale of XP shares.
• Possibility of total transaction reaching US$ 1.052 billion with the green shoe option.
• Maintained a significant stake (41.1%) in XP after the sale.

Negative

• Reduction in stake from 41.1% to 40.5% post-green shoe exercise may indicate a dilution of control over XP.

SÃO PAULO, Dec. 3, 2020 /PRNewswire/ -- Itaú Unibanco Holding S.A. ("Itaú Unibanco" or "Company") informs its stockholders and the general market that on December 2, 2020 it sold the shares issued by XP Inc. ("XP") held by its subsidiary ITB Holding Brasil Participações Ltda., representing 4.4% of XP's capital stock, by way of the public offering held on Nasdaq, the stock exchange on which XP's shares are listed ("Transaction").

This Transaction totaled US$ 935 million. After the green shoe exercise, the total amount might reach US $ 1.052 billion equivalent to 5% of XP total capital. This sale will affect Itaú Unibanco's results for this year.

Itaú Unibanco became the holder, directly or indirectly, of 41.1% of XP's total capital and, after the green shoe exercising, if consummately, it will become the holder, directly or indirectly, of 40.5% of the total capital of XP.

ALEXSANDRO BROEDEL
Group Executive Finance Director and Head of Investor Relations

Itaú Unibanco - Corporate Communication
(11) 5019-8880 / 8881 - press@itau-unibanco.com.br

 

View original content:http://www.prnewswire.com/news-releases/material-fact-sale-of-shares---xp-301185868.html

SOURCE Itaú Unibanco Holding S.A.

FAQ

What is the total amount Itaú Unibanco raised from the sale of XP shares?

Itaú Unibanco raised US$ 935 million from the sale of 4.4% of XP's capital stock.

How much will the transaction reach with the green shoe exercise?

The transaction could reach up to US$ 1.052 billion if the green shoe option is exercised.

What percentage of XP's capital does Itaú Unibanco hold after the sale?

Itaú Unibanco holds 41.1% of XP's capital after the sale, which may adjust to 40.5% after the green shoe exercise.

When was the sale of XP shares announced by Itaú Unibanco?

The sale was announced on December 3, 2020.

What impact will the sale have on Itaú Unibanco's financial results?

The sale will affect Itaú Unibanco's financial results for the year.