Nu Holdings, a leading digital bank operating in Brazil, Mexico, and Colombia, raised $2.6 billion by offering 289.2 million shares (including shares in the form of BDRs) at $9, the high end of the downwardly revised range of $8 to $9. The company originally planned to offer the same number of shares at $10 to $11, before lowering the range at the end of November. New and existing investors had indicated on $1.3 billion worth of shares in the offering (50% of the deal).The company plans to dual list on the B3 Brazil under the symbol "NUBR33."
Nu believes that it is one of the world's largest digital banking platforms, and one of the leading technology companies in the world, with 48.1 million customers across Brazil, Mexico, and Colombia as of September 30, 2021. Nu was the first digital-native banking platform in Latin America, and has grown its ecosystem of individual consumers and SMEs at a 110% CAGR since 2018.
Nu Holdings plans to list on the NYSE under the symbol NU. Morgan Stanley, Goldman Sachs, Citi, Nu Invest, Allen & Company, HSBC, and UBS Investment Bank acted as joint bookrunners on the deal.
