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On Wednesday, investors gave a vote of confidence to the IPO market, at least in Brazil. Spanish banking giant Santander raised R14.1bn (US$8.1bn) by selling a stake in its Brazilian unit. It was the biggest listing in the country’s history and the largest in the world since March 2008.

Investors are making an expensive, somewhat risky bet on Santander’s ability to integrate and expand the disparate elements of its Brazilian presence. They are also wagering on the durability of recovery in Latin America’s largest country.

Read more at Financial Services Briefing: “Big bets on Santander offering” (October 7th)

Brazilian IPOs