Nubank files two IPO requests

The neobank plans to use its IPO proceeds for working capital and acquisitions, among other investments. Nubank hopes to raise USD 3 billion with both offerings. It targets a market value of more than USD 50 billion for its initial public offering in the US.

Following the IPO, co-founders Vélez, Cristina Junqueira, and Adam Edward Wible will hold 87% of the voting power and 25% of the company’s shares, provided the underwriters do not exercise a so-called greenshoe, which allows companies to sell additional shares to buyers during an IPO.

Nubank will list its shares on the New York Stock Exchange under the code “NU” and its BDRs on B3 under the code “NUBR33”.

Morgan Stanley, Goldman Sachs, Citigroup, and NuInvest are the lead underwriters of the offering.