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Buffett-backed Nubank hires investment banks to lead IPO - source

Reuters2021-08-11

Aug 9 (Reuters) - Nubank, the Brazilian digital bank backed by Warren Buffett's Berkshire Hathaway, has hired Morgan Stanley, Goldman Sachs and Citigroup to help lead its U.S. initial public offering, a source familiar with the matter said on Monday.

Reuters reported in June that Nubank had invited investment banks to pitch for roles in the upcoming IPO, which could value the company at more than $40 billion.

At that valuation, Nubank's IPO would be one of the biggest- ever stock market debuts of a South American company, putting it on par with other high-profile offerings such as that of online brokerage Robinhood Markets Inc, which went public in July.

Nubank is expected to file for the IPO by the end of this year or early 2022, sources have told Reuters.

Nubank, whose legal name is Nu Pagamentos, declined to comment on the matter. Morgan Stanley, Citi and Goldman Sachs declined to comment.

In June, Nubank raised $750 million in a funding round led by Berkshire Hathaway Inc, valuing it at $30 billion.

Founded in 2013, Nubank has 40 million clients. Although most of them are in Brazil, the fintech has recently expanded to Mexico and Colombia.

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  • Juneriq
    ·2021-08-11
    Nubank
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    • Juneriq
      like
      2021-08-11
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  • nelson21
    ·2021-08-11
    pls like and comment
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  • Iamadatan
    ·2021-08-11
    Can like my comment please
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  • 73f94148
    ·2021-08-11
    Okok
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  • 73f94148
    ·2021-08-11
    Tell me your opinion about this news...
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  • dzgunners95
    ·2021-08-11
    Nice
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  • dandan_4896
    ·2021-08-11
    Like
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  • 72aaf5fc
    ·2021-08-11
    Okok
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    • 73f94148
      Ok
      2021-08-11
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  • Freedster49
    ·2021-08-11
    Please like. Thanks 
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    • Qarah
      Pls like!
      2021-08-11
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    • starry123
      ok
      2021-08-11
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  • Jimchanfc
    ·2021-08-11
    Comment and like pls 
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    • xvin23
      LIke pls
      2021-08-11
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    • Tongs
      Okay
      2021-08-11
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  • Michiko
    ·2021-08-11
    Can I have a like pls
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    • BrOoKe
      Like me back
      2021-08-11
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  • jo88
    ·2021-08-11
    Like
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    • Qarah
      Like and comment pls
      2021-08-11
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  • ConanToh
    ·2021-08-11
    tiger
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    • BibiLoh
      OK
      2021-08-11
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  • Sallyoo
    ·2021-08-11
    Like and comment 
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    • Sallyoo
      H
      2021-08-11
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      2021-08-12
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  • sockbuster
    ·2021-08-11
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    • jo88
      nice
      2021-08-11
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  • imOxy
    ·2021-08-11
    [开心] 
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  • ZiXian
    ·2021-08-11
    Like and comment pls
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    • babypink
      cool
      2021-08-11
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    • imOxy
      [微笑] [财迷]
      2021-08-11
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    • sockbuster
      ok
      2021-08-11
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  • CW37
    ·2021-08-11
    tiger
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    • dzgunners95
      good
      2021-08-11
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    • ConanToh
      done
      2021-08-11
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    • ZiXian
      Nice
      2021-08-11
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  • carroll
    ·2021-08-11
    Great
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    • carroll
      Yes
      2021-08-11
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    • JemPro
      Good!
      2021-08-11
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