Qatar's Santander Brasil offering prices below suggested tag -sources
SAO PAULO, April 5 Qatar Investment Authority's planned sale of a 2.25 percent stake in Banco Santander Brasil SA on Wednesday priced below initial estimates, two people with knowledge of the deal said, reflecting the view that shares of Brazil's No. 4 listed lender remained expensive.
According to the people, who requested anonymity because the offering is in the works, investors agreed to pay 25 reais per unit of Santander Brasil offered in the transaction, well below the 27-real price tag initially suggested by the sovereign wealth fund.
Santander Brasil, as well as underwriters Bank of America Merrill Lynch and Credit Suisse Group AG, did not have an immediate comment. QIA could not be reached for comment. (Reporting by Guillermo Parra-Bernal and Paula Arend Laier)