Nubank debuts with $52bn market cap, becomes Brazil’s third-most valuable public firm

Nubank debuts with $52bn market cap, becomes Brazil’s third-most valuable public firm

Nubank, a Brazilian fintech services provider that had been transmuted as the largest LATAM financial technology institution in less than eight years after its inception, had made a stellar NYSE public market debut on Thursday, snowballing as much as 25 per cent while proffering the digital lender a market cap of above $52 billion.

Besides, Sao Paulo, Brazil-headquartered Nubank which became the third-most valuable publicly listed firm in Brazil following a scintillating first day in New York Stock Exchange, opened up as much as 25 per cent higher to $11.25 apiece.

Nevertheless, Thursday’s public market debut of Nubank followed a blockbuster IPO that took place a day earlier, while the Buffet-backed digital lender had priced its shares at $9 apiece, making offerings at the top end of its target range while raising roughly a $2.6 billion.







However, after opening up the day’s Wall Street at $11.25 per share, Nubank shares, listed as ticker symbol ‘NU’ in New York Stock Exchange, wrapped up the day 15 per cent higher to $10.33 apiece, proffering the lender a market cap close to a jawdropping $50 billion.

Nubank valued at more than $50bn in chartbuster NYSE debut