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Tuesday, 28 March 2017

UPDATE 3-Santander Brasil slumps as Qatar fund seeks partial exit | Reuters

UPDATE 3-Santander Brasil slumps as Qatar fund seeks partial exit | Reuters:

"Shares in Banco Santander Brasil SA fell the most in intraday trading in almost four months on Tuesday after Qatar's sovereign wealth fund filed to sell a 2.25 percent in Brazil's fourth-largest listed lender. The bank informed regulators that Qatar Investment Authority had put as many as 80 million units up for sale in a so-called restricted-efforts offering. Units are a blend of common and preferred shares and are the bank's most widely traded class of stock in Brazil. With the transaction, the sovereign wealth fund, known as QIA, would liquidate 40 percent of the 5.5 percent stake it holds. Fund managers and analysts said QIA's move comes after a rally that nearly doubled the price of Santander Brasil's units . "



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