Brazilian fintech Inter & Co. migrates shares to Nasdaq as part of US push (Pending: INTR)

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Brazilian fintech Inter & Co. (INTR), formerly known as Banco Inter, migrated its shares from Brazil’s B3 exchange to Nasdaq on Thursday as it seeks to expand its footprint in the US market.

Shares of Inter opened at $ 3.98, recently changing hands at $ 3.67 at approximately 1:10 pm ET.

In May, Banco Inter announced that it was changing its name and listing its Class A common shares on Nasdaq. The company’s stock will continue to trade on Brazil’s B3 as Brazilian depositary receipts, backed by its Class A common shares on Nasdaq.

“As Inter & Co becomes a fully listed US company, we will gain access to the largest capital market in the world, remaining focused on further strengthening our market and financial positioning while delivering profitable growth,” said Inter & Co. Chief Executive Officer João Vitor Menin , in a statement.

Based in Brazil, Inter has developed a “super app” platform that provides financial and non-financial services to customers in Brazil. The company, which recently acquired US-based fintech USEND, said it is seeking to replicate its business model for the US market.

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