Warren-buffet-backed Brazilian neobank Nubank has <a href="https://www.cryptoknowmics.com/news/warren-buffett-backed-brazilian-digital-bank-planning-2-billion-ipo/">revealed</a> the expected dates for going public on the NYSE and B3 Exchanges in Brazil as part of its initial public offering (IPO). The digital bank has seen phenomenal growth in Latin America across Brazil, Mexico, and Colombia with further plans to expand across the region.
<h2><strong>Nubank Going Public on NYSE and B3 Exchanges</strong></h2>
According to an official <a href="https://blog.nubank.com.br/nusocios-como-aceitar-pedacinho-nubank/" target="_blank" rel="nofollow noopener">blog post</a>, Nubank is going public on the New York Stock Exchange (NYSE) and the São Paulo-based B3 stock exchange on Dec. 9 and 10 respectively. The company initially announced submitting filings for an IPO back in October.

Until then, the fintech firm has been inviting its app users to claim a piece of the company through a program called NuSócios ahead of the IPO listing (similar to airdrops in the crypto world).

Launched on Nov. 9, the company is providing free Brazilian Depositary Receipts (BDRs) to its customers with each BDR representing one-sixth of a class A common share of its parent company, Nu Holdings. The final value will be determined after the IPO is finalized.

According to the<a href="https://www.cryptoknowmics.com/news/the-us-sec-announces-that-it-will-reject-the-concept-for-a-leveraged-bitcoin-etf/"> U.S. SEC</a> filing, the company will cap the BDRs to a limit of about $33 million with the company even having the option to increase the cap by 25%, “based on the number of BDRs.” With the BDRs subjected under a 12-month vesting period, customers can learn more about the stock market and make a decision about whether they want to trade their piece on the B3 exchange.

What’s more, users can even show off their virtual Nubank pieces in their <a href="https://www.instagram.com/nubank/?hl=en" target="_blank" rel="nofollow noopener">Instagram post</a> using a special filter that shows a translucent, purple crystal-like gem floating above the palm of their hand.
<h2><strong>Backings from Warren Buffett</strong></h2>
At its last funding round, co-led by Warren Buffett’s Berkshire Hathaway, Nubank reached a valuation of $30 billion. Reports around its IPO suggest that the bank is now aiming for a $55 billion valuation.

For the final company valuation, one has to wait for a while to discover what Nubank’s price range for its IPO will be.

Digital Bank Nubank Plans to List on the NYSE and B3 Exchanges Next Month

Warren-buffet-backed Brazilian neobank Nubank has revealed the expected dates for going public on the NYSE and B3 Exchanges in Brazil.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Digital Bank Nubank Plans to List on the NYSE and B3 Exchanges Next Month

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