Itaú sells another US$ 24 million in shares of XP, which is the buyer

Yesterday, the bank had already sold even greater volume in block trades

Itaú accelerated the divestment of shares of XP Inc. After making a block trade of 6.78 million shares yesterday, the bank today closed an additional sale of 1.06 million shares directly with XP.

In a statement, XP said it was buying the shares for $22.65 each, for a total of $24 million and 0.19% of the company’s capital. XP said it must use its existing cash to execute the transaction, keeping the shares in treasury. The percentage is not part of the share buyback program announced by XP on May 11.

In the block of shares yesterday, Itaú raised US$ 153.7 million, with around 1.21% of the company’s capital placed on the market. Yesterday’s and today’s sales total approximately R$888 million for Itaú. The bank remains with a 9.96% stake, in addition to the share with Itaúsa.

Source: Value Pipeline