Brazil’s Banco Inter to raise US$1 billion through share offering

RIO DE JANEIRO, BRAZIL – Brazilian digital lender Banco Inter SA launched a share offering on Tuesday, June 15, to raise up to R$5.5 billion (US$1.09 billion), according to a securities filing. The price per share was set at R$57.84.

Banco Inter, formerly Banco Intermedium, is a Brazilian bank based in the city of Belo Horizonte, State of Minas Gerais. It stands out for being one of the first digital banks in Brazil, and for not charging for basic services. It is currently the main sponsor of the São Paulo Futebol Clube.

Intermedium CFI Financial was founded in 1994 in the city of Belo Horizonte by members of the Menin family, which owns the MRV Engenharia Group. Its initial purpose was to promote the real estate lending business, however, the company eventually consolidated in the syndicated loan and middle markets.

MRV Engineering

Regarded as one of the largest construction companies and land developers in Latin America, MRV Engineering is the largest player in Brazil in the real estate segment in the mid-level to affordable housing market. The company boasts housing and apartments in more than 150 cities throughout Brazil.

With information from Reuters