On December 13, 2013, Popular, Inc. (NASDAQ: BPOP) completed the sale of 5,800,000 shares of common stock of Evertec, Inc. (NYSE: EVTC).
The shares were sold to the public as part of an underwritten public offering of 15,233,273 shares of Evertec´s common stock at USD20.60 per share. As part of the transaction, Evertec repurchased from the underwriters 3,690,036 shares of its common stock being sold by the selling stockholders in the offering.
Total cash proceeds received by Popular from the sale of the shares was approximately USD118m, net of underwriting discounts. Popular will recognize an after tax gain of approximately USD99m during the fourth quarter of 2013.
Founded in 1893, Popular, Inc. is the leading banking institution by both assets and deposits in Puerto Rico and ranks 36th by assets among US banks. In the United States, Popular has established a community-banking franchise providing a broad range of financial services and products with branches in New York, New Jersey, Illinois, Florida and California. For more information, visit www.popular.com