Brazilian fintech Nubank is now publicly listed in the US and Brazil
Brazilian fintech unicorn Nubank listed on the New York Stock Exchange (NYSE) and Brazil’s B3 this week, starting its journey as a public company.
Nubank listed on the NYSE (NU) and Brazil’s B3 exchange (NUBR33) on Dec. 9, after announcing tentative dates last month.
According to Reuters, Nubank is now the most valuable listed bank in Latin America. The neobank finished its first day of trading on the NYSE with shares up by close to 15%, CNBC reported. This valued the company at $45 billion, according to Forbes.
Bloomberg reported that Nubank priced shares at the top of its marketed $8-9 range, with shares closing at $10.33 on its first day of trading on the NYSE. The company raised $2.6 billion, according to the news outlet.
Nubank, backed by Warren Buffett’s Berkshire Hathaway among others, calculates that about 815,000 people invested in the company via Brazilian Depositary Receipts (BDRs). Also, about 7.5 million claimed their free, small piece of Nubank as part of its NuSócios program.
Forty-year-old Nubank founder and CEO David Vélez is now the richest Colombian in the world, according to a Spanish-language article from Forbes.
