XP Inc.

XP Inc. (XP) priced its initial public offering on Dec 11, 2019 at $27.00 per share, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $13.75B. Goldman Sachs was lead-left underwriter, joined by J.P. Morgan, Morgan Stanley and XP and others. Davis Polk and Maples and Calder advised the company and Skadden, Arps advised the underwriters.

XP Inc. is a Brazilian financial services company aiming to widen access to financial products and services through multiple channels at lower fees. It positions itself against a banking sector dominated by five traditional institutions that it says offer narrow product choices and poor client experiences.

Status

IPO

Ticker

XP

Exchange

Nasdaq Global Select

Priced

Dec 11, 2019

IPO price

$27.00

Market cap at IPO price

$13.75B

First filed

Nov 15, 2019

Underwriters

Goldman Sachs, J.P. Morgan, Morgan Stanley, XP, BofA Securities, Citigroup, Credit Suisse and UBS

Company counsel

Davis Polk and Maples and Calder

Underwriters' counsel

Skadden, Arps

Sector

Financials

Country / state

Cayman Islands

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.