Nubank has closed the hiring of three banks to coordinate its Initial Public Offering (IPO). According to Pipeline, Morgan Stanley will lead the operation, while Citi and Goldman Sachs complete the first group.

Nubank prepares for the biggest IPO of the recent times (Image: Nubank Blog)

In addition to the trio, Nubank is also expected to hire three other banks to support the process. According to the news, the IPO will be held in the United States and should take place in the next three months.

So far, Nubank has revealed very little information about going public. For example, information about the schedule, volume of the offer and expected valuation are kept under lock and key by the digital bank. However, some sources linked to Nubank reported information about the IPO.

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One of these sources said the bank is preparing “the biggest IPO in recent times”, which is plausible given the bank’s numbers. In June, Nubank received an investment of $500 million from the company of the billionaire Warren Buffett, as reported by Digest Time.

The investment raised the bank’s market value to $30 billion. However, the liquidity and interest in Nubank may make this assessment quite conservative. According to one manager, Nubank could seek a valuation of up to $50 billion.

Nubank also did not confirm on which exchange it intends to go public. The IPO is most likely to take place at Nasdaq, given the exchange’s focus on technology companies.