StoneCo Sells Stake in Banco Inter

Rhea-AI Summary

StoneCo Ltd. (Nasdaq: STNE) has completed the sale of 16.8 million shares of Banco Inter, fully divesting its stake valued at R$218 million, with shares sold at R$12.96 each. This decision aligns with Stone's strategy to concentrate on its core operations in Financial Services and Software. Previously, in Q2 2022, Stone executed a partial sale of 21.5% of its Banco Inter shares during the company's corporate restructuring. This strategic move emphasizes StoneCo's commitment to enhancing its primary business focus and optimizing its investment portfolio.

Positive

• Sale of 16.8 million shares of Banco Inter totaling R$218 million enhances capital liquidity.
• Strategic refocus on core Financial Services and Software operations.

Negative

• None.

GEORGETOWN, Cayman Islands, Feb. 01, 2023 (GLOBE NEWSWIRE) -- StoneCo Ltd. (Nasdaq: STNE) (“Stone” or the “Company”) announces today that it has sold 16.8 million shares of Banco Inter, representing the totality of StoneCo's stake in the company. The shares were sold at a price of R$12.96, equivalent to R$218 million.

The movement follows Stone’s goal to focus on the core operation of Financial Services and Software. During the second quarter of 2022 Stone had already announced a partial sale equivalent to 21.5% of the shares it held at Banco Inter through the cash-out option offered in Inter’s corporate restructuring.

About StoneCo

StoneCo is a leading provider of financial technology and software solutions that empower merchants to conduct commerce seamlessly across multiple channels and help them grow their businesses.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. These statements identify prospective information and may include words such as “believe,” “may,” “will,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “forecast,” “plan,” “predict,” “project,” “potential,” “aspiration,” “objectives,” “should,” “purpose,” “belief,” and similar, or variations of, or the negative of such words and expressions, although not all forward-looking statements contain these identifying words.

Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Stone’s control.

Stone’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: more intense competition than expected, lower addition of new clients, regulatory measures, more investments in our business than expected, and our inability to execute successfully upon our strategic initiatives, among other factors.

Contact:

Investor Relations

investors@stone.co

FAQ

What was the recent financial transaction by StoneCo Ltd. regarding Banco Inter?

StoneCo Ltd. sold 16.8 million shares of Banco Inter, fully divesting its stake for R$218 million.

How much did StoneCo sell its Banco Inter shares for?

The shares were sold at a price of R$12.96 each.

Why did StoneCo decide to sell its stake in Banco Inter?

The sale aligns with StoneCo's goal to focus on its core operations in Financial Services and Software.

Did StoneCo previously sell shares of Banco Inter before this transaction?

Yes, in the second quarter of 2022, StoneCo announced a partial sale of 21.5% of its shares in Banco Inter.