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Shareholders of Banco Inter in Brazil have approved the Nasdaq list by Reuters

© Reuters.

By Tatiana Bautzer and Gram Slattery

SAO PAULO / RIO DE JANEIRO (Reuters) – Shareholders of Banco Inter SA have agreed to transfer their listing from the Brazilian B3 stock exchange to the US Nasdaq, the Brazilian bank said in a presentation of its securities on Thursday.

Shareholders of Banco Inter will now be able to charge their shares or receive Receipts of Brazilian Deposits that can be converted into Class A shares traded on Nasdaq. The last day to choose to convert or withdraw money is December 2, said Helena Caldeira, CFO of Banco Inter.

In an interview with Reuters, Caldeira said the bank expects shareholders to demand less than 2 billion reais ($ 359.30 million) from Banco Inter units. If the amount is higher, the bank reserves the right to review the transaction and may withdraw the withdrawal price.

Banco Inter will pay 45.84 reais for each unit that its shareholders decide to charge, a 22% premium on Thursday’s closing price.

The bank decided to move its main listing site to the United States “to have more access to global capital markets and to have a larger and more diverse investor base,” it said in a previous statement on Thursday.

The Nasdaq list is expected to take effect Dec. 28, Caldeira added.

($ 1 = $ 5,5664)

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