XP to purchase R$1.0 billion of outstanding common shares A | 20.11.24

(RTTNews) – XP Inc. (XP) said its board of directors has approved a new share buyback program. Under the repurchase program, the Company may repurchase up to a dollar amount equal to R$1.0 billion of outstanding Class A common stock on the open market, based on prevailing market prices, or in privately negotiated transactions, over a period starting on November. November 20, 2024, continuing until the completion of the repurchase, or November 20, 2025, depending on market conditions.

XP expects to use its existing cash to fund repurchases under the buyback program.

XP’s board of directors has authorized management to appoint a broker for the repurchase program to purchase Class A common stock on its behalf in the open market.