Nubank is in the news today as investors discuss new details from the fintech company’s filing for an initial public offering (IPO).
Let’s take a look at what investors need to know about the Nubank IPO below!
- Nubank intends to list its shares on The New York Stock Exchange under the NU ticker.
- The company’s IPO is set to range from $8 per share and $9 per share.
- That’s worth highlighting as the previous price range for the IPO was $10 to $11 per share.
- The IPO will take place at the same time the company launches shares in Brazil.
- This will have it listing Brazilian depositary receipts with each one representing 1/6th of a Class A share.
- The company says it already has a commitment from certain investors to purchase an aggregate amount of at least $1.3 billion of Class A shares in the IPO.
- To go along with that, Nubank will include a 30-day option from underwriters to purchase an additional 28,571,429 at the IPO price.
- Another interesting it of news worth pointing out about the company is Warren Buffett’s investment in it.
- The Berkshire Hathaway (NYSE:BRK.A,BRK.B) CEO holds a $500 million investment in Nubank.
- So what does Nubank intend to do with the money it will raise from an IPO?
- Nothing out of the ordinary.
- It expects to use the funds for general corporate purposes and may use a portion of it for acquisitions or investments.
Investors seeking more stock market news for Wednesday are in luck!
InvestorPlace has all the most recent stock coverage traders need to know about today. Among that is OceanPal (NASDAQ:OP) stock rising after its public debut, details of a SPAC merger for Altimeter Growth (NASDAQ:AGC), as well as VBI Vaccines (NASDAQ:VBIV) jumping on FDA news. You can find out more about these matters at the links below!
More Stock Market News for Wednesday
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- Dear AGC Stock Fans, Dec. 2 Is a Big Day for the Grab SPAC Merger
- VBIV Stock Is Shooting Higher on Big FDA Vaccine Approval News
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.