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Popular sells shares in Evertec |  finance

Popular sells shares in Evertec | finance

Popular, Inc. has completed. (NASDAQ:BPOP) sale of its remaining 7,065,634 shares of Evertec, Inc.

Popular sold 6,262,293 shares in an IPO of Evertec common stock. Coinciding with the completion of the IPO, Popular completed a private sale of 803,341 shares to Evertec. With these transactions, Popular no longer owns common stock in Evertec.

The total cash Popular received from the IPO and private sale of Evertec was approximately $219.8 million. The combined transactions resulted in an after-tax gain of approximately $131 million. Popular intends to return shareholders, through common stock buybacks, to after-tax profits from the sale of shares.

About Popular, Inc.

Popular, Inc. It is the leading financial institution in Puerto Rico, in terms of assets and deposits, and ranks among the top 50 US bank holding companies by assets.

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