SoftBank acquires 8.1% stake in Brazilian online lender Banco

Photo: Bloomberg

Japan’s SoftBank Group Corp has acquired a 8.1% stake in the Brazilian online lender Banco Inter SA through a share offering that concluded last week, according to a securities filing published on Tuesday.

Banco Inter raised 1.3 billion reais ($329.20 million) in a primary share offering to fund its expansion, pricing its units, comprised by one common share and two preferred shares, at 39.99 reais. SoftBank acquired 760 million reais in units.