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Santander is hoping to get Central Bank approval to proceed with the listing of its machine company Getnet in Brasil, Brazil and the United States. State / broadcast. While BNO is yet to arrive, the company last week provided the necessary documents to start operations at B3 and Nasdaq, the US technology cradle.

At the same time, GetNet’s business is being divested from the bank as part of a strategy to bring the company to life and be part of the global payment operations for the group. A proposal to divest Santander Brasil’s stake in Getnet was approved in late March.

In this way, automatically, the machine company will be listed in both the country and the United States, as well as in Santander Brazil.

Last Friday, 14, Getnet filed with the Securities and Exchange Commission (CVM) to be a publicly held company. Allows application for category A, ie issue of shares. However, according to information from the municipality, there is no request for an initial public offering (IPO). According to information provided on the SEC’s website American CVM, the same process was done with Nasdaq.

The Spanish group Santander intends to list Brazilian company Getnet on the stock exchange in 2021. In the first quarter, the company captured R $ 86.8 billion, up 46.62% from a year earlier. Gnet was net profit of R $ 110 million in the first quarter of this year. In 2020, the result was R $ 359 million. At the end of March, GetNet’s active subscriber base reached 875 thousand, an increase of 14% in a year. The company confirms the start of the IPO process.
Information is from the newspaper State of S. Paulo.

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About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

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