XP Announces Share Repurchase Program Of Up To 1 Billion Brazilian Reais

Author: Benzinga Newsdesk | May 23, 2024 09:00am

XP Inc. (NASDAQ:XP), announced today that its board of directors has approved a share repurchase program. Under the repurchase program, XP may repurchase up to the amount in dollars equivalent to R$1.0 billion (one billion Brazilian Reais) of its outstanding Class A common shares in the open market, based on prevailing market prices, or in privately negotiated transactions, over a period beginning on May 23rd 2024 continuing until the earlier of the completion of the repurchase or December 31th 2024, depending upon market conditions. XP's board of directors will review the repurchase program periodically and may authorize adjustments to its terms and size or suspend or discontinue the repurchase program. XP expects to utilize its existing cash to fund repurchases made under the repurchase program.

Posted In: XP