Santander’s Getnet valued at $1.32 billion in trading debut By Reuters
By Carolina Mandl
SAO PAULO (Reuters) – Brazilian payments company Getnet Brasil, controlled by Spain’s Banco Santander SA (NYSE:), made its trading debut on the Sao Paulo stock exchange on Monday with a 7.3 billion reais ($1.32 billion) market value.
Santander spun off and listed Getnet Brasil, previously controlled by Banco Santander (MC:) Brasil SA, in a bid to unlock additional value for its shareholders. Getnet is now part of Santander’s global payments company PagoNxt.
Brazil’s third-biggest card processor, Getnet reached a valuation close to the country’s leading card processor, Cielo SA (OTC:), which has a market capitalization of 7.1 billion reais.
But its valuation lags those of more recent entrants StoneCo Ltd and PagSeguro Digital Ltd, which both trade in the United States.
The Brazilian lender acquired Getnet in 2014 to offer credit and debit card payments services to merchants. With a market share of 16% in Brazil, it posted revenues of 1.3 billion reais in the first half of the year and a net income of 188 million. reais.
Currently Getnet operates in Brazil, Mexico, Argentina, Chile and Uruguay.
($1 = 5.5123 reais)
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
India tells public to shun Musk-backed Starlink until it gets licence By Reuters
© Reuters. FILE PHOTO: SpaceX founder and Tesla CEO Elon Musk speaks on a screen during the Mobile World Congress…
China’s Wenzhou issues arrest warrant for Macau junket mogul Chau By Reuters
© Reuters. FILE PHOTO: A logo of Macau junket operator Suncity Group is seen at a gaming fair in Macau,…