RIO DE JANEIRO, BRAZIL - Bank Inter (BIDI11) and Stone (STNE) on Monday morning, May 24, announced an agreement that joins the two financial institutions. Stone will subscribe for up to R$2.5 billion (US$470 million) in common shares or units that will be issued in a follow-on offering of the digital bank, according to a notice sent to the market.
The investment will give Stone up to 4.99% of Inter's capital, at a fixed price of R$57.84 per unit and R$19.28 per common share, considering the stock split announced last week . . .