Nubank prices share at US$ 9 in New York Stock Exchange IPO

Digital bank Nubank (B3:NUBR33, NYSE:NU) priced its Class A shares this Wednesday (8) at $9 each in an initial public offering (IPO) on the New York Stock Exchange. New York, contemplating the sale of 289 million shares.

Nubank revealed the prices in a document sent to the Securities and Exchange Commission (SEC). The bank plans to use the funds for working capital, operating and capital expenses and also for acquisitions.

Brazilian Depositary Receipts (BDRs) were priced at R$ 8.36 each. Each BDR represents one-sixth of the shares that will be traded on the New York Stock Exchange. The start of negotiations in New York is this Thursday (9). At B3, negotiations start on Friday (10).

The offering is being led by Morgan Stanley, Goldman Sachs Group and Citigroup.

Fintech was founded in 2013 by Colombian David Vélez, Brazilian Cristina Junqueira and American Edward Wible.

The share price, initially estimated to be between $10 and $11, has dropped to $8 to $9, with the share being priced at the top of the latter range, at $9.

In October, the bank reported having reported a profit in the first half of its operations in Brazil of BRL 76 million, after attracting more customers to its credit card. In the same period of the previous year, Nubank had a loss of R$ 95 million.

(with Estadão and Reuters)

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About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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