XP Inc. - XP STOCK NEWS

XP Inc. (XP) announced a public offering of 27,567,485 Class A common shares, with 7,130,435 shares from the company and 20,437,050 shares from ITB Holding Brasil Participações Ltda. The underwriters, including XP Investimentos, Itaú BBA, Morgan Stanley, and J.P. Morgan, may purchase an additional 4,135,122 shares. The registration statement on Form F-1 with the SEC has been filed but is not yet effective, meaning shares cannot be sold until it is. This offering aims to enhance XP's position in Brazil's financial services market.

XP, a leading financial services provider in Brazil, announced that Itaú Unibanco's board approved a spin-off of its 41.05% stake in XP into a new company, Newco. This spin-off may include a sale of 5% of XP’s shares. XP is exploring corporate structures to align interests with Itaú and improve governance, focusing on eliminating conflicts and leveraging capital structure. A potential merger of Newco into XP is under evaluation, which would facilitate the issuance of Class A shares to Newco shareholders, ensuring long-term benefits for XP and its stakeholders.

XP Inc. (NASDAQ: XP) reported record revenue of R$2.2 billion for Q3 2020, a 55% year-over-year increase, surpassing its long-term target of 35% growth. The company generated gross revenue of R$8.0 billion over the last 12 months, marking a 148% increase compared to 2018. Active clients rose 72% year-over-year to 2,645,000, with significant growth in its retail and institutional segments. Adjusted net income surged 119% to R$570 million, with an adjusted net margin of 27.1%. Investments in technology and the IFA network are aimed at capturing more market share from traditional banks, despite a modest current market share of approximately 10%.

XP Inc. (Nasdaq: XP) has corrected the timing of its upcoming earnings webcast for Q3 2020 financial results. The webcast will now take place on November 9, 2020, at 5:00 PM ET (7:00 PM BRT). This correction follows an earlier release with the wrong time.

XP is a leading financial services platform in Brazil, focusing on low-fee products and customer education. The company aims to democratize access to financial services and improve the client experience.

XP Inc. (Nasdaq: XP), a leading financial services platform in Brazil, announced a webcast for its Q3 2020 financial results on November 9, 2020, at 5:00 PM ET. This follows the press release with results that will be available after market closure on the same day. XP aims to revolutionize financial services by democratizing access and providing innovative products. The replay of the webcast will be on XP's investor relations website.

XP Inc. (Nasdaq: XP) reported robust 3Q20 KPIs, highlighting strong growth across various metrics. Assets Under Custody (AUC) reached R$563 billion, a year-over-year increase of 60% and a quarter-over-quarter rise of 29%, driven by R$117 billion in net inflows. Active clients surged by 72% year-on-year, supported by enhanced brand recognition. Additionally, Retail Equity DARTs experienced a significant 181% growth compared to 2019. The company achieved an NPS of 69, reflecting high customer satisfaction. Overall, XP continues to capitalize on the shifting investment landscape in Brazil.

XP Inc. (Nasdaq: XP) has announced the elimination of brokerage fees for online stock trades at Rico and a 75% reduction at XP Direct, aiming to democratize investments in Brazil. CEO Guilherme Benchimol emphasized this move lowers barriers for self-directed investors. CFO Bruno Constantino estimates a 2% reduction in total gross revenue from these changes in H1 2020, but believes long-term benefits will outweigh short-term impacts. This initiative aims to drive higher net inflows and increase equity allocations among Brazilian retail investors.

XP Inc. (Nasdaq: XP) has announced a strategic partnership in Wealth Management with former Credit Suisse Hedging-Griffo executives, acquiring a 49.9% minority stake. This collaboration aims to enhance offerings to ultra-high-net-worth clients, leveraging both XP's technology and the private bankers' expertise. The Brazilian Private Banking market, with R$1.4 trillion in assets, presents significant growth potential. XP's founder emphasized that this move will strengthen their platform and disrupt the concentrated Private Banking sector in Brazil.

XP Inc. (Nasdaq: XP) will host a webcast on August 11, 2020, at 5:00 PM ET to discuss its Q2 2020 financial results. The results will be released after the market closes on the same day. XP is a leading financial services platform in Brazil, focusing on low-fee financial products and democratizing access to various financial services.

The company's mission includes educating investors, developing new products, and providing excellent customer service, with over 600 investment products available.