HomeTrading NewsNubank stock set for NYSE debut, as IPO pricing valued company at about $41.5 billion

Nubank stock set for NYSE debut, as IPO pricing valued company at about $41.5 billion

Nu Holdings Ltd.
NU,
+14.64%
,
also known as Nubank, is headed for its public debut on the NYSE Thursday, as the Brazil-based digital banking platform’s initial public offering priced overnight at the top of the expected range. The company raised $2.60 billion, as it sold 289.15 million shares in the IPO, which priced at $9, compared with the expected range of between $8 and $9 a share. With 4.61 billion shares expected after the IPO, the pricing values the company at about $41.48 billion. The stock is expected to begin trading some time after the open under the ticker symbol “NU.” The company is going public at a time of relative investor disdain for recently IPO’d stocks, as the Renaissance IPO ETF
IPO,
-3.24%

has tumbled 12.2% over the past three months while the S&P 500
SPX,
-0.26%

has gained 4.6%.

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