Popular sells its Evertec shares | Finance

Popular, Inc. (“Popular”) (NASDAQ:BPOP) has completed the sale of its remaining 7,065,634 shares of Evertec, Inc.

Popular sold 6,262,293 of the shares in an underwritten public offering of Evertec common shares. Concurrent with the completion of the underwritten public offering, Popular completed a private sale of 803,341 of the shares to Evertec. With these transactions, Popular no longer owns common shares of Evertec.

The total cash received by Popular from the underwritten public offering and the private sale to Evertec was approximately $219.8 million. The combined transactions resulted in an after-tax gain of approximately $131 million. Popular intends to return to shareholders, through the repurchase of common shares, the after-tax profits resulting from the sale of the Shares.

About Popular, Inc.

Popular, Inc. is the leading financial institution in Puerto Rico, both by assets and deposits, and ranks among the top 50 US bank holding companies by assets.

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