XP $1.23 billion equity offering
Davis Polk advised XP Inc. on its $1.23 billion equity offering of 31,654,894 Class A common shares, consisting of 7,130,435 shares sold by XP and 24,524,459 shares sold by ITB Holding Brasil Participações Ltda. The Class A common shares are listed on the Nasdaq Global Select Market under the symbol “XP.”
Based in São Paulo, Brazil, XP is a leading, technology-driven platform and a trusted provider of low-fee financial products and services in Brazil. XP provides financial advisory services and an open financial product platform providing access to over 750 investment products including equity and fixed income securities, mutual and hedge funds, structured products, life insurance, pension plans, real-estate investment funds (REITs) and others from XP, its partners and competitors.
The Davis Polk capital markets team included Manuel Garciadiaz, Byron B. Rooney, Konstantinos Papadopoulos, Cesar Fischer and Hugo Casella. The tax team included William A. Curran, Elina Khodorkovsky and Tomislava Dragicevic. J. Taylor Arabian provided 1940 Act advice. Members of the Davis Polk team are based in the São Paulo and New York offices.