ipo_page_title
get_ready_to_trade_itNu Holdings Ltd
instrument_page_subtitle
instrument_page_trade_online_at
general_info_on NU
about_the_company
name
NU
industry
Digital banking
employees
3,700+
founding_year
2013
ticker
NU
filing_information
ipo_file_date
30/11/2021
nr_of_shares
289,150,555
price
$8 - $9
exchange
NYSE
bookrunners
Morgan Stanley, Goldman Sachs, Citigroup, HSBC, UBS Investment Bank
About NU Holdings
NU Holdings (Nubank) is the largest digital bank in the world by the number of customers (over 48 million), with an average of 40,000 new accounts being opened each day.
The company offering digital credit cards, transfers, and payments was founded in 2013 by Colombian David Vélez, Brazilian Cristina Junqueira and American Edward Wible and is headquartered in Sao Paolo, Brazil. Apart from serving clients in Brazil, Nubank also has operations in Colombia and Mexico.
Some of Nubank's investors are Sequoia Capital, Founders Fund, Kaszek Ventures, Tiger Global Management, Goldman Sachs, QED Investors and DST Global. Berkshire Hathaway, Warren Buffett’s company, also owns a $500 million stake in Nubank.
Nubank is considered one of the top 100 most influential companies globally by TIME magazine and one of 50 names in CNBC's 2021 Disruptor list.
The first transaction with a Nubank card was made on April 1, 2014. Four years later, Nubank became a unicorn startup with a valuation of more than US$1 billion. In the same year, Nubank launched its first financial product, an international Mastercard credit card that can be managed through a mobile app.
In 2017, Nubank launched its loyalty program, Nubank Rewards, followed by its digital account, NuConta. In 2020, Nubank bought Plataformatec, a company specialising in software engineering, and Easyinvest, a Brazilian investment broker.
IPO figures
The startup hopes to raise up to $2.86 billion through its initial public offering. NU Holdings plans to sell more than 289 million shares priced between $8 - $9 apiece, with the option for underwriters to buy 43.37 million additional shares.
Valuation
Nubank is valued at around $30 billion, second only to UK challenger bank Revolut. NU Holdings market valuation could exceed $40 billion based on the number of outstanding shares.
Basic info about NU Holdings
- Upon IPO, NU Holdings could become the number one fintech company, surpassing Revolut.
- Warren Buffett’s Berkshire Hathaway owns a $500M stake in NU Holdings.
- Financial Times estimated the company’s value at approx. $30 billion.
Sources: cnbc.com, investors.com, marketwatch.com, sec.gov, techcrunch.com, reuters.com, ft.com
summary
ticker
NU
price
$8 - $9
exchange
NYSE
bookrunners
Morgan Stanley, Goldman Sachs, Citigroup, HSBC, UBS Investment Bank
key_points
ipo_quick_overview NU ipoNU
Targeted valuation
up to $41.7 BLN
Revenue growth in 2021
88%
Total number of customers
48.1m
ipo_trading_online
sneak_peak NU ipo sneak_peak
see_why_traders_seek_and_cherich_ipos
status
ipo_status_available
ipo_date
9/12/2021
price
$8 - $9
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