By Carolina Mandl
SAO PAULO (Reuters) - Brazilian funds firm Getnet Brasil, managed by Spain's Banco Santander SA (NYSE:), made its buying and selling debut on the Sao Paulo inventory trade on Monday with a 7.3 billion reais ($1.32 billion) market worth.
Santander spun off and listed Getnet Brasil, beforehand managed by Banco Santander (MC:) Brasil SA, in a bid to unlock extra worth for its shareholders. Getnet is now a part of Santander's international funds firm PagoNxt.
Brazil's third-biggest card processor, Getnet reached a valuation near the nation's main card processor, Cielo SA (OTC:), which has a market capitalization of seven.1 billion reais.
But its valuation lags these of newer entrants StoneCo Ltd and PagSeguro Digital Ltd, which each commerce within the United States.
The Brazilian lender acquired Getnet in 2014 to supply credit score and debit card funds providers to retailers. With a market share of 16% in Brazil, it posted revenues of 1.3 billion reais within the first half of the yr and a web revenue of 188 million. reais.
Currently Getnet operates in Brazil, Mexico, Argentina, Chile and Uruguay.
($1 = 5.5123 reais)
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