Inter&Co Rings Opening Bell at Nasdaq Listing

Rhea-AI Summary

Inter&Co has officially listed its Class A Common Shares on Nasdaq, migrating from Brazil's B3 exchange, with trading commencing on June 23, 2022, under the ticker INTR. The company serves over 20 million customers and aims to enhance its financial positioning in the U.S. market. Following its acquisition of USEND, Inter now offers a global account in U.S. dollars and a cross-border payments solution for underserved immigrants. Additionally, Inter's shares will continue trading in Brazil as INBR31.

Positive

• Listed on Nasdaq, enhancing visibility and access to U.S. capital markets.
• Acquired USEND, expanding service offerings for cross-border payments.
• Serves over 20 million customers, indicating strong market penetration.

Negative

• None.

Inter&Co lists in US following the migration of its shares from Brazil's B3 exchange

BELO HORIZONTE, Brazil, June 23, 2022 /PRNewswire/ -- Inter&Co (NASDAQ: INTR), a leading Super App offering financial and non-financial services to more than 20 million customers in Brazil and US, announced today the listing of its Class A Common Shares on Nasdaq, following the migration of its shares from Brazil's B3 exchange. Inter expects to commence trading as a Nasdaq-listed company upon market open on June 23, 2022 under the ticker symbol "INTR".

"We are excited to be listed on Nasdaq as it marks the next chapter of the journey that began in Brazil in 2015 when we started a banking revolution, seeking to deliver user-friendly products to underserved customers. We are proud of our technology, our team and our achievement of surpassing 20 million customers, but this is only the beginning. We believe the best is yet to come. As Inter&Co becomes a fully listed U.S. company, we will gain access to the largest capital market in the world, remaining focused on further strengthening our market and financial positioning while delivering profitable growth," commented João Vitor Menin, Inter&Co's CEO.

"Inter is already offering Brazilians domiciled in US or Brazilians traveling abroad a global account in US dollars, following the acquisition earlier this year of fintech company USEND. Clients also have access to a competitive cross-border payments solution that meets the needs of an underserved immigrant population. Our mission continues to be focused on simplifying people's lives through technology, with the best and most innovative products and solutions whether in digital banking, credit cards, insurance, investments, cross-border services, and shopping online, all under one single Super App," added Menin.

Inter&Co shares will continue to trade in Brazil as a Brazilian Depositary receipt listed on B3 under the ticker "INBR31", backed by the Class A Common Shares listed on Nasdaq.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Inter&Co     

Inter&Co is the holding company of Inter Group and indirectly holds all of Banco Inter's shares. Inter&Co evolved from a digital bank to a Super App that simplifies people's lives, where everything is integrated in a single app. Inter offers a complete range of services in banking, investments, credit, insurance and cross-border services, in addition to a marketplace that brings together the best retailers in Brazil and the United States. The company reached 20 million customers in May 2022, and has around 3 million active customers at Inter Shop, surpassing R$ 3.9 billion in Gross Merchandise Value (GMV) as of the last twelve months. As of March 31, 2022, Inter had an expanded credit portfolio of R$19.8 billion, shareholders' equity of R$8.5 billion, R$38.5 billion in total assets and nearly R$60 billion in assets under custody (AuC). Inter's customers already have the ability to trade shares listed on US-based stock exchanges through its international trading platform hosted within the Super App. More than 50,000 accounts have been opened since the launch.

Contacts:
Grayling
Lucia Domville / Fabiane Goldstein   M +1 646 824.2856/ +1 954 625.4793
Lucia.Domville@grayling.com / Fabiane.Goldstein@grayling.com   

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SOURCE Inter&Co

FAQ

When did Inter&Co list on Nasdaq?

Inter&Co began trading on Nasdaq on June 23, 2022.

What is the ticker symbol for Inter&Co on Nasdaq?

The ticker symbol for Inter&Co on Nasdaq is INTR.

How many customers does Inter&Co serve?

Inter&Co serves more than 20 million customers.

What services does Inter&Co offer?

Inter&Co offers financial and non-financial services, including banking, investments, and cross-border solutions.