Fintech unicorn Nubank expects twin public listings next month, invites app users to become partners

Quick Take

  • Nubank’s parent company Nu Holdings plans to list on the NYSE and B3 exchanges in early December. 
  • The fintech unicorn is encouraging its app users to learn about investing by claiming their own small piece of the company. 

Nubank has revealed expected dates for when it will go public in the U.S. and Brazil as part of its upcoming initial public offering (IPO).

In a Portuguese-language blog post, Nubank said it estimates Dec. 9 and 10 as the dates when its parent Nu Holdings will list on the New York Stock Exchange (NYSE) and the São Paulo-based B3 stock exchange. The company announced in late October that it had submitted filings for a proposed IPO.

In the meantime, the fintech unicorn has been inviting its app users to become partners in the company through a program called NuSócios, which centers around securing “a little piece” of Nubank ahead of the IPO.

Brazil-based Nubank customers can now find instructions in their mobile app about how to claim a piece of the company. Some have likened the strategy to the airdrops popular in the crypto world, although Nubank doesn’t appear to be using the term in its own marketing materials.

Through a new program called NuSócios that launched Nov. 9, the fintech is providing Brazilian Depositary Receipts (BDRs) to “millions” of its customers— free of charge. As explained in educational materials on its website, Nubank estimates that each BDR represents one-sixth of a class A common share of its parent company, Nu Holdings. The final value will be determined after the IPO is finalized. 

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