Digital Bank Nubank (NYSE) shares:Not) They debuted on the New York Stock Exchange on Thursday (9) with a sharp rise.
In the US, stocks opened in a rally of about 35%, trading above $12, but eased, although they followed a very expressive jump. The assets closed with a gain of 14.77%, at $10.33, on the New York Stock Exchange.
At 3:40 p.m. (ET), about half an hour after the opening of Nubank’s US assets, the first appearance of BDRs (Brazilian Depository Receipts) NUBR33 in B3. The auction for the opening of the assets began about 15 minutes after the first negotiation began on the New York Stock Exchange, and for most of the trading session, the shares of NUBR33 saw a significant increase. BDRs closed up 20.10%, at R$10.04, after rising 22% on the day’s maximum (at R$10.20).
In the US market, Class A assets It was priced last Wednesday night (8) at $9 each, in initial public offering (underwriting, its English abbreviation) is at the top of the indicative range between $8 and $9. Notably, fintech last week lowered its indicative price range, which initially moved from $10 to $11, at $20%, amid investor caution with financial banks. BDRs are priced at R$ 8.36.
Morgan Stanley, Goldman Sachs and Citigroup coordinated the show.
Nubank was founded in Brazil in May 2013 by Colombian David Velez, American Edward Whipple and Brazilian Christina Junquera.
The company emerged as a financial technology company and received eight rounds of investment and two extensions, with the participation of investment funds and venture capital firms, and among its investors is billionaire Berkshire Hathaway. Warren Buffett.
The brand’s first credit card was launched in 2014 in purple, the Nubank symbol, and as of 2018, the company started making the digital account available to customers.
The following year, Nubank expanded its operations to Mexico and in 2020 to Colombia.
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The company currently has more than 48 million customers in Brazil, Mexico and Colombia, and has offices in Germany and the United States.
According to Nubank, the digital bank receives an average of 2.1 million new customers per month (average for the third quarter of 2021) and has more than 5,400 employees.
In October 2021, the bank announced a profit in the first half of its operations in Brazil of 76 million Brazilian reais, after attracting more customers to its credit card. In the same period of the previous year, Nubank incurred a loss of R$95 million.
Velez noted that the IPO is important to the company’s future growth. By going public, Nubank opens up its capital to raise funds and receive new investors. This can enable projects to make us more complete and achieve our goals.”
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