Brazil’s Nubank Raises $2.6 Billion in Top-of-Range U.S. IPO
- Buffett’s Berkshire Hathaway buys 10% of shares being sold
- Nubank bypasses Itau Unibanco as region’s most valuable bank
Photographer: Nelson Almeida/AFP/Getty Images
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Nu Holdings Ltd., the Brazilian digital bank whose backers include Warren Buffett’s Berkshire Hathaway Inc., raised $2.6 billion in a U.S. initial public offering priced at the top of a marketed range it had earlier lowered.
The company, which does business as Nubank, sold 289 million shares Wednesday for $9 each after offering them for $8 to $9, according to a statement confirming an earlier report by Bloomberg News. Nubank had lowered the proposed range last week after earlier seeking to raise as much as $3.18 billion.