General Atlantic and XP Controle Participações, the founding holding company of XP, have filed for a secondary share offering of US$1b for up to 22.4m shares on Nasdaq.
(Reuters) Brazilian brokerage firm XP Inc (XP.O) filed on Monday for a secondary share offering, saying its second-quarter profit is likely to double from a year earlier, according to a securities filing.
Private equity firm General Atlantic LLC e XP Controle Participacoes will sell 19,535,420 class A common shares in the offering, the broker said.
The move comes roughly six months after XP debuted on Nasdaq in a much-anticipated initial public offering, when its shares were priced at $27. Since then, shares have risen more than 60%.
XP also said it is likely to post a second-quarter profit between 420 million reais and 520 million reais, up from 228 million reais a year ago, as net inflows from clients have accelerated.
Investment banking units of Morgan Stanley, Goldman Sachs and JPMorgan Chase will manage the offering.