RELATED HOT TOPICS: Politics Financial Services Investment banking Financial instruments Banks Economics

Brazil's XP Investimentos reportedly postpones IPO plans

By BNamericas Tuesday, March 26, 2019

Contact us should you have any questions or want to schedule a demonstration. info@bnamericas.com Chile: +56 (2) 2941 0300

Brazilian investment firm XP Investimentos reportedly postponed its plans to hold an IPO due to political and economic risks in Brazil.

The company, which was planning the IPO for mid-2019, will wait until the end of this year or 2020, according to an unnamed sourced quoted by local business daily Valor.

Brazil's economic recovery is still weak and a difficult political scenario could put congressional approval of a key pension reform proposal at risk.

The IPO of fast-growing XP has been long awaited by the investor community in Brazil.

In May 2017, local banking giant Itaú Unibanco agreed to pay 5.7bn reais (US$1.5bn at the time) for a 49.9% stake in XP. The initial agreement allowed Itaú to buy an additional 25% by 2022, but this was later blocked by the central bank due to market concentration concerns.

Our most recent reports Discover more

Build your own Media Monitoring service

Unlock the full potential of BNamericas. Create your account today and start building your personal dashboard with news, projects, companies and reports about any topic in Latin America.

Join thousands of companies doing business in Latin America.

BNamericas’ Data and Insights can help you identify business opportunities in 10 industriesin Latin America. Let us show you how today.