Santander Consumer Gains After Auto-Lender’s IPO
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Santander Consumer USA Holdings Inc., the U.S. auto-lending unit of the Spanish bank, climbed in its trading debut after raising about $1.8 billion in an initial public offering.
The shares rose 5 percent to $25.20 as of 4 p.m. in New York, after the company, whose shareholders include KKR & Co. and Banco Santander SA, priced the shares in its IPO at $24 each. Santander Consumer increased both the number of shares and the price range yesterday before the offering. The stock is listed on the New York Stock Exchange under the ticker SC.