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fintech stock debuts on NYSE today

One of the anticipated U.S.-listed preliminary public choices from a international fintech firm takes place today. The Brazilian startup Nubank can have its IPO in America, with business watchers intently monitoring how the market reacts. If Nubank’s IPO booms, it may sign the beginning of a wave of different Latin American startups to go public, reports Reuters. Right here’s what you have to know:

  • What’s Nubank? Nubank is a neobank based mostly in Brazil. It was based in 2013 by David Velez after he had bother opening up a checking account within the nation (by way of Reuters). Nubank has about 48 million customers, according to Iupanna.
  • What’s a “neobank”? It’s a buzzy time period for an e-bank. That’s, a digital or internet-based financial institution that operates on-line solely and doesn’t have bodily branches.
  • What change will Nubank commerce on? In keeping with the corporate’s press launch, it’s going to commerce on the New York Stock Alternate.
  • What’s Nubank’s stock ticker image? Nubank will commerce underneath the ticker “NU” on the New York Stock Alternate.
  • What’s the IPO worth? Nubank shares will start buying and selling for $9 every, according to the corporate’s press launch. There will probably be 289,150,555 Class A abnormal shares accessible.
  • The rest I ought to know? You may not have heard of Nubank prior to now, however big-name buyers have. Nicely-known names which have already invested within the firm embrace Tencent Holdings, Sequoia Capital, and Warren Buffett’s Berkshire Hathaway.

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