Banco Santander is seeking to offer shares of its Argentinian arm Santander Río in an initial public offering (IPO), Financial Times reports. The bank is expected to raise about $500-700 million from the 15-20% stake sale. The listing may value the business at $3 billion. The proceeds are expected to be used to expand its branch and ATM network in Argentina. Bank of America Merrill Lynch and JPMorgan have been appointed to underwrite the initial public offering.
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