Santander Consumer USA Starts Formalities For IPO Authorization - Quick Facts

(RTTNews) - Santander Consumer USA, the US-based car financing business 65%-owned by Banco Santander S.A. (SAN, BNC.L), has started formalities to obtain authorization from the U.S. Securities and Exchange Commission or SEC for an initial public offering of shares, until which no shares may be offered to the public. The procedures has just begun with the SEC and it does not denote a final decision for allowing the trading or public offer.

Also, the company said the date on which this would be carried out or the number of shares entitled to be sold, has not yet been decided.

Banco Santander S.A. provides retail banking products and services for private customers, small and medium enterprises, and companies, and operates chiefly in Brazil, Spain, United Kingdom, Mexico, Portugal, Germany, Chile, Argentina, Poland, United States, and internationally.