Brazilian fintech heavyweight Nubank gets US$52 billion valu
Đã gửi: Thứ 6 Tháng 12 10, 2021 3:31 pmBrazilian fintech heavyweight Nubank gets US$52 billion valuation in strong NYSE debut
Digital lender Nubank's shares opened 25 per cent above the offer price in their stock market debut on Thursday, giving the company a market capitalisation of nearly US$52 billion, making it the third most valuable listed company in Brazil.
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At that valuation, the Sao Paulo-based fintech, backed by Warren Buffett's Berkshire Hathaway Inc, is only behind commodities players Petrobras and Vale.
On Wednesday, Nubank priced its IPO at the top end of a range it had lowered earlier due to concerns over a global rout in technology stocks, to raise nearly US$2.6 billion. The offer was eight times oversubscribed, one source with knowledge of the matter said.
The company's flotation comes as a record year for US listings draws to a close, with several heavyweights like Coinbase and Robinhood having gone public this year.
Nubank said it had turned a profit in the first half of 2021 in its Brazilian operations. Founder and Chief Executive Officer David Velez said the company will stay focused on three markets - Brazil, Mexico and Colombia.
"A lot of the capital that we're raising in this IPO is for Colombia and Mexico. And so we will continue to just invest behind that growth opportunity," Velez said in an interview with Reuters.
In a filing late last month, the company had also said affiliates of Sequoia Capital, Tiger Global Management, SoftBank Latin America Funds, and others were expected to anchor the IPO and buy shares worth at least US$1.3 billion.
Digital lender Nubank's shares opened 25 per cent above the offer price in their stock market debut on Thursday, giving the company a market capitalisation of nearly US$52 billion, making it the third most valuable listed company in Brazil.
Even if you've just had a jackpot SLOTXO TRUE WALLET broken in the last rotation, you've got a chance to crack the jackpot in the next rotation as well.
At that valuation, the Sao Paulo-based fintech, backed by Warren Buffett's Berkshire Hathaway Inc, is only behind commodities players Petrobras and Vale.
On Wednesday, Nubank priced its IPO at the top end of a range it had lowered earlier due to concerns over a global rout in technology stocks, to raise nearly US$2.6 billion. The offer was eight times oversubscribed, one source with knowledge of the matter said.
The company's flotation comes as a record year for US listings draws to a close, with several heavyweights like Coinbase and Robinhood having gone public this year.
Nubank said it had turned a profit in the first half of 2021 in its Brazilian operations. Founder and Chief Executive Officer David Velez said the company will stay focused on three markets - Brazil, Mexico and Colombia.
"A lot of the capital that we're raising in this IPO is for Colombia and Mexico. And so we will continue to just invest behind that growth opportunity," Velez said in an interview with Reuters.
In a filing late last month, the company had also said affiliates of Sequoia Capital, Tiger Global Management, SoftBank Latin America Funds, and others were expected to anchor the IPO and buy shares worth at least US$1.3 billion.