June 26, 2022
Nubank selects NYSE for IPO in US and wants to reach US $ 50 billion market

Nubank selects NYSE for IPO in US and wants to reach US $ 50 billion market

Oh Nupang Selected the New York Stock Exchange NYSE, For its initial public offering of shares United States, According to someone familiar with the matter.

The transaction is expected to take place in December, and the person said the value of Nupank would be more than $ 50 billion, as the matter is not yet public. Suggestions are ongoing, so details may change.

Nubank and NYSE representatives did not comment.

Digital Bank has filed a confidential registration draft with the SEC and CVM, according to a company report on Wednesday. The number of shares to be sold and the price range for the proposed offer are not described.

Nubank wants to simultaneously list Class A common shares in the United States and trade BDRs in B3.

According to the person, the selection for the NYSE came after a heated dispute with NASDAQ for listing. At NYSE, Nubank will join PagSeguro, which is listed on the stock exchange. Stone and XP are stocks traded on the Nasdaq.

Includes banks that work on the transaction Morgan Stanley, Goldman Sachs Group Inc., Citigroup Inc. e UPS Group AG, Said those familiar with the matter earlier this year.

Nubank, the world’s largest independent digital bank, was valued at $ 30 billion after a private round of investments earlier this year. Berkshire Hathaway Bought $ 500 million worth of shares, said someone familiar with the matter at the time.

The company has more than 41 million customers and recorded its first net profit from its operations in Brazil in the first half of this year, according to a recent report.