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Article: Banco Real listing raises $8bn for Santander coffers.(Banco Santander S.A.)(Brief article)
- Article from:
- The Banker
- Article date:
- November 1, 2009
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Spanish giant Santander, the eurozone's largest bank by market capitalisation, has raised some $8bn after the flotation of its Brazilian subsidiary, Banco Real, in the world's largest listing this year. The bank will list under the name Santander Brasil.
The huge initial public offering (IPO), which surpassed the July listing of China State Construction Engineering in Shanghai, gives the Brazilian division of the bank a market value of $50bn, similar to that of Germany's Deutsche Bank or France's Societe Generale. Brazil's previous IPO record was held by VisaNet's $4.3bn equity-raising, the credit card operator's Brazilian affiliate.
The listing has ...