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The future of finance in LatAm & the Caribbean

Nubank debuts on the stock market

Dec 10, 2021

By Eyanir Chinea
impecable-nubank-debuta-en-bolsa

In the the first day of trading on the New York Stock Exchange, the shares closed at a US$11.25, an increase of 25%.

 

Nubank made its hotly anticipated debut in the international markets with an initial public offering that raised US$2.6 billion and made it Latin America’s most valuable publicly traded bank, with a market capitalization of US$52 billion.

In the the first day of trading on the New York Stock Exchange, the shares closed at a US$11.25, an increase of 25%.

“All the steps in building Nubank’s IPO were impeccable, from attracting Warren Buffet as a partner to the fact that they allowed the Brazilian community, which has been a fan of the brand for all these years, to access its shares through joint distribution and listing on the Brazilian stock exchange from the beginning,” Bruno Diniz, co-founder of Spiralem, an innovation consultancy.

Trading under the stock ticker “NU”, the bank sold 289 million Class A shares at US$9 each on the NYSE. In parallel, it also issued Brazilian Depositary Receipts (BDR) on the São Paulo Stock Exchange (B3).

All the details of the sale are here.

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