May 10, 2017 / 8:07 PM / a year ago

Brazil broker XP Investimentos files for IPO

SAO PAULO, May 10 (Reuters) - Brazilian brokerage firm XP Investimentos SA filed on Wednesday with securities regulator CVM for an initial public offering that will include secondary share offerings.

According to the filing, XP has hired JPMorgan Chase & Co. as leading underwriter, alongside the investment banking units of Itaú Unibanco Holding SA, Morgan Stanley , Banco do Brasil SA, Grupo BTG Pactual , Bank of America Corp, Banco Bradesco SA , Goldman Sachs Group Inc and J. Safra. SA.

Proceeds from the primary portion of the IPO will be used to launch new credit products, finance expansion and pay for the acquisition of Brazilian broker Rico Corretora, XP said. (Reporting by Aluisio Pereira; Writing by Tatiana Bautzer; Editing by Sandra Maler)

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