Brazil's Banco Inter lists shares on Nasdaq

Inter & Co Inc., previously known as Banco Inter & Co. Inc., has formally listed its shares for trading on the Nasdaq, under the ticker symbol INTR.

The bank had migrated its shares from Brazil's B3 stock exchange.

In December 2021, Banco Inter had actually canceled plans to list on the Nasdaq, and in January this year, it had opted for a share buyback instead. However, the bank later undertook a corporate reorganization to push through with the listing and got shareholder approval for it in May.

The Softbank-backed Brazilian company will continue to trade on the B3 as a Brazilian Depositary Receipt, or BDR, under the ticker symbol INBR31. The BDRs will be backed by the Class A Common Shares listed on Nasdaq.