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Nubank targets valuation of up to $100 billion with upcoming IPO

Nubank presented an ambitious estimate to go public on the stock exchange. The Brazilian fintech intends to raise something between $2.8 to $4.8 billion in its initial public offering (IPO).

Nubank targets valuation of up to $100 billion with upcoming IPO

Nubank targets valuation of up to $100 billion with upcoming IPO

With that, the valuation of Nubank could reach the barrier of $100 billion. If it reaches this amount, Nubank would become the second most valuable public company in Brazil. Only Vale, with around $104 billion, would have an higher market value than Nubank.

This value would also place Nubank as more valuable than Banco Ita├║ and Bradesco combined. Today, the two largest private financial institutions in the country are worth around $90 billion.

The value is also similar to that aimed at by the Coinbase exchange, which carried out its IPO in April. The company aimed to reach $100 billion, but ended up being worth $65 billion, with the shares priced at $250 at the time of the IPO.

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  • However, Nubank’s IPO is still in its infancy, because they chose to carry out its IPO in the United States.Therefore, the bank will still file the IPO application with the US Securities and Exchange Commission (SEC). This application must be filed by the end of August.

    Afterwards, Nubank should start the other opening procedures. Morgan Stanley, Citi and Goldman Sachs are leading the process, but Nubank is still looking for other institutions.

    The expectation is that the shares will be listed by the end of the year.

    Currently, Nubank’s valuation is $30 billion. The brand was achieved after an investment of $500 million made by Berkshire Hathaway. The $100 billion is a more optimistic estimate, as Nubank executives project a valuation of up to $50 billion after the share offering.

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