Brazilian-based NuBank's stock prices at $9 in IPO

Описание: Nu Holdings (NYSE: NU ) has raised ~$2.6B after pricing its trimmed initial public offering, consisting of an international offering of ~289M Class A ordinary shares at $9.00 per Class A ordinary share, and a concurrent offering in Brazil of Class A ordinary shares in the form of Brazilian depositary receipts, each BDR representing 1/6 th of a Class A ordinary share, at R$8.36 per BDR, based on the December 8, 2021 exchange rate of R$5,579 to $1.00 published by the Central Bank of Brazil. The company originally intended to price the IPO between $10-$11 but later revised the estimated price to $8$-$9 per share . Berkshire purchased 10% of the shares in the offering. Chief Executive Officer David Velez will own a stake in the company worth about $8.9B at the IPO price. The company has granted an option to purchase up to an additional 28,571,429 Class A ordinary shares. Trading kicks-off today on NYSE under the ticker symbol “NU” and the BDRs are expected to begin trading on the São Paulo Stock Exchange under the ticker symbol “NUBR33”. The global offering is expected to close on December 10, 2021. The company intends to use the net proceeds from the offering for general corporate purposes, including working capital, operating expenses, capital expenditures and acquisition. The company reported $99 M loss on revenue of $1.06B for the nine-month period ended Sept. 30. Also read: Nu Holdings' IPO: What To Know About The Stock And How To Invest