Brazil’s Nubank Jumps in Debut After IPO Raises $2.6 Billion
- Buffett’s Berkshire is said to have bought 10% of IPO shares
- Nubank becomes region’s most valuable financial company
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Nu Holdings Ltd., now Latin America’s most valuable financial company, rose 15% in its trading debut after raising $2.6 billion in a U.S. initial public offering.
Shares of the Brazilian digital bank, whose backers include Warren Buffett’s Berkshire Hathaway Inc., opened trading Thursday at $11.25 after selling for $9 each in the IPO. The shares closed at $10.33 in New York, giving the the company a market value approaching $48 billion.