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Santander books 1.4 bln eur capital gains from IPO

Source: Reuters - Wed 7th Oct 2009

Spain's Santander said on Wednesday it will book 1.43 billion euros ($2.10 billion) in capital gains from an initial public offering for its Brazilian unit, which it would use to boost generic provisions.

The Spanish bank said the transaction would increase its core capital by 0.60 percentage points.

Santander's Brazilian unit raised raised 14.1 billion reais ($8.05 billion) in its initial public offering in Brazil, the largest IPO on a U.S. exchange in 18 months, the bank said early on Wednesday.

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