In this scenario, the approximate valuation of the Brazilian company will be around 40,000 million dollars, which represents a reduction of about 10,000 million dollars compared to the forecasts made a month ago.
For now, it is known that on its IPO, the neobank will put up more than 289 million Class A shares that could mean the income of up to a maximum of 2.6 billion dollars compared to the 3,000 million previously projected.
The offer also includes Brazilian certificates of deposit (BDR), which represent one sixth of each Class A common share. In addition, the banks participating in the offer have the possibility of exercising an over-allotment right to place more shares.
Earlier this year, the bank was valued at $ 30 billion after a funding round in which Berkshire Hathaway, Warren Buffett’s investment vehicle, bought a stake in the company.
Between January and September, the number of the bank’s clients grew at a rate of 62%, to 48.1 million, in Colombia, Mexico and Brazil.
In the first nine months of the year, the company posted net attributable losses of 98.9 million dollars (85.4 million euros), 53.5% more than a year earlier; but it doubled its turnover, to 1,062.1 million dollars (917.5 million euros).
The shares are expected to trade under the symbol NU, while the BDRs will trade under NUBR33.
The global coordinators of the offering have been Nu Invest, Morgan Stanley, Goldman Sachs and Citigroup. For their part, HSBC, UBS and Safra Investment Bank will act as Joint Bookrunners.
The company recently launched ‘Betty’, an artificial intelligence algorithm made specifically for Colombia, which facilitates customers’ access to a credit card, by creating an alternative credit score, with the information provided by the credit bureaus. .
Source From: Ambito
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