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Home Markets

Nubank debuts with $52 bln market cap, becomes Brazil’s third most valuable public firm

by Prattay Mazumdar
December 10, 2021
in Markets
Reading Time: 1 min read
0
NuBank

Source: FinTech Futures

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NuBank
Source:
FinTech Futures

Computerized bank Nubank’s (NU.N) shares opened 25% over the deal cost in their securities exchange debut on Thursday, giving the organization a market capitalization of almost $52 billion, making it the third most significant recorded firm in Brazil.

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Nu Holdings Ltd., the Brazilian computerized bank whose benefactors incorporate Warren Buffett’s Berkshire Hathaway Inc., brought $2.6 billion up in a U.S. first sale of stock evaluated at the highest point of a showcased range it had before brought down.
The organization, which carries on with work as Nubank, sold 289 million offers Wednesday for $9 each in the wake of offering them for $8 to $9, as per an assertion affirming a prior report by Bloomberg News. Nubank had brought down the proposed range last week after prior trying to raise as much as $3.18 billion.

Berkshire purchased 10% of the offers in the contribution, said an individual acquainted with the matter who asked not to be distinguished in light of the fact that it wasn’t public. Berkshire didn’t quickly react to a solicitation for input shipped off Buffett’s associate.

At the IPO value, Nubank has a market worth of $41 billion dependent on the remarkable offers recorded in its filings with the U.S. Protections and Exchange Commission. Representing representative investment opportunities and confined stock units, the organization has a completely weakened worth of $44 billion.

Nubank’s IPO makes it the most important monetary foundation in Latin America, outperforming Itau Unibanco Holding SA, with a $38 billion market esteem.

Sequoia Capital, which put $1 million in Nubank in 2013 in a seed round, presently has a stake that is valued at $7.1 billion at the $9 share cost, in light of the organization’s filings. Other top investors incorporate DST Global, Tencent, and Tiger Global.

Tags: IPO NubankMarketsNubankNubank IPO
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Prattay Mazumdar

Prattay is a Journalism and mass communication student. He is a deadline-oriented journalist with a passion for telling unique stories. Prattay is currently working as an intern at Techstory and can be reached at [email protected] .

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