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Buffett-Backed Fintech Nubank to Seek $50.6 Billion Valuation in IPO

  • Fintech looks to raise more than $3 billion in public debut
  • Firm would rank among the 10 most valuable in Latin America
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Nu Holdings, the Brazilian digital bank backed by billionaire Warren Buffett’s Berkshire Hathaway Inc., is seeking a valuation of as much as $50.6 billion in its initial public offering, making it one of Latin America’s biggest companies.

Nubank, as the firm is known, will market at least 289 million shares for $10 to $11 each, according to a filing Monday with the U.S. Securities and Exchange Commission. At the top of that range, it would debut as the region’s sixth most valuable firm and its largest financial institution.