The holding company Itaúsa announced this Wednesday that it sold 12 million shares of XP (class A shares) for R$ 1.8 billion.
According to a relevant fact for the market, the negotiation involves the equivalent of 2.14% of the broker’s total capital.
As a result, Itaúsa now holds 11.51% of XP’s total capital and 3.63% of its voting capital.
“The sale is a result of Itaúsa’s strategic decision to reduce its stake in XP, as previously disclosed, as it is not a strategic asset, as well as the need to recompose the holding’s cash as a result of the latest investments made”, according to the document.
Itaúsa adds that, depending on market conditions, it may sell up to 24 million more XP class A common shares this year, out of a total of about 64.5 million shares it now has.
The sale will have a positive impact of R$1.1 billion on the result for the first quarter of 2022, net of taxes, according to Itaúsa.
In February, the company’s chief executive, Alfredo Setubal, said at an earnings conference with analysts and investors that Itaúsa would likely make further sales of XP shares to maximize results and reduce taxes payable.
Itaúsa sold a 1.39% stake in XP in 2021, raising BRL 1.2 billion, the proceeds of which were allocated to the holding’s shareholders through the distribution of interest on equity, according to information in the company’s balance sheet released. last month.
Source: CNN Brasil
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