Davis Polk Advises XP Inc. on $954.8 Million Secondary Offering

Davis Polk advised XP Inc. in connection with an SEC-registered secondary offering of 22,465,733 Class A common shares by certain selling shareholders at a price per Class A common share of $42.50, which includes the full exercise of the underwriters’ option to purchase additional shares. 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 financial services 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 600 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, Elliot M. de Carvalho and Hugo Casella. The tax team included William A. Curran, Elina Khodorkovsky and Tomislava Dragicevic. Gregory S. Rowland and Sijia Cai provided 1940 Act advice. Members of the Davis Polk team are based in the São Paulo and New York offices.