The Canadian Press - ONLINE EDITION

Auto loan financing company Santander Consumer USA gains in New York Stock Exchange debut

  • Print

Shares of Santander Consumer USA are rising in their New York Stock Exchange trading debut after the auto loan financing company's initial public offering raised $1.8 billion.

The stock, trading under the symbol "SC," is up $1.99, or 8.3 per cent, at $25.99 in morning trading.

The Dallas-based company, a spinoff of Spanish bank Banco Santander, priced the IPO of 75 million shares at $24 per share. The banks managing the IPO also have an option to buy another 11.2 million shares, which would add to proceeds.

Shares were sold by existing stockholders. Santander Consumer USA Inc. won't receive any proceeds from the offering.

Santander Consumer USA originates loans for both new and used cars, mainly through auto dealers.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Spring fashion trends

View more like this

Photo Store Gallery

  • A goose flys defensively to protect their young Wednesday near Kenaston Blvd and Waverley -See Bryksa 30 Day goose challenge- Day 16 - May 23, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • PHIL.HOSSACK@FREEPRESS.MB.CA 101130-Winnipeg Free Press Columns of light reach skyward to the stars above Sanford Mb Tuesday night. The effect is produced by streetlights refracting through ice crystals suspended in the air on humid winter nights. Stand Up.....

View More Gallery Photos

Poll

What are you most looking forward to this Easter weekend?

View Results

View Related Story

Ads by Google