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Santander says to list 16.21 pct of Brazil unit

Source: Reuters - Mon 21st Sep 2009

Spain's largest bank Santander said on Monday it plans to list about 16.21 percent of its Brazilian unit Banco Santander (Brasil) SA through a capital hike.The stake offered does not include a green shoe which the global coordinators can issue if demand requires, the bank said in a statement.

The shares are expected to be offered at between 22.00 and25.00 Brazilian reals (($12.18-$13.84) each, bringing the total value of the deal to between 11.550 and 13.125 billion reals.

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