Bank of America Corp DE purchased 171,526 shares of MercadoLibre, Inc. during the second quarter.
A September 17th SEC filing values the new investment at approximately $291.15 million. The purchase gives Bank of America a 0.34% ownership stake in the e-commerce and fintech firm.
This acquisition follows recent investments from other major firms, including BlackRock and Capital Research Global Investors. MercadoLibre also recently completed a $1 billion debt offering to fund its expansion in Latin America.