Digital lender Nubank’s shares opened 25% above the offer price in their stock market debut on Thursday, giving the company a market capitalization of nearly $52 billion, making it the third most valuable listed firm in Brazil.
On Wednesday, Nubank priced its initial public offering at the top end of a range it had lowered earlier due to concerns over a global rout in technology stocks, to raise nearly $2.6 billion. The offer was eight times oversubscribed, one source with knowledge of the matter said.
Morgan Stanley, Goldman Sachs & Co, Citigroup and NuInvest are the lead underwriters for the offering.
Read more/Source: Reuters
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.