- June 22, 2021
- Posted by: Stratford Team
- Category: Business
The logo of Nubank, a Brazilian FinTech startup, is pictured at the bank’s headquarters in Sao Paulo, Brazil June 19, 2018. REUTERS/Paulo Whitaker/File Photo
June 21 (Reuters) – Nubank, the Brazilian digital bank backed by Warren Buffett’s Berkshire Hathaway, has invited investment banks to pitch for roles on its upcoming initial public offering (IPO) in the United States, people familiar with the matter said on Monday.
Nubank’s founder and Chief Executive David Vélez has said an IPO is likely to happen at some point but is not in the company’s short-term plans. Its discussions with banks illustrate that preparations for a stock market debut, which one of the sources said could value Nubank at more than $40 billion, are more advanced than previously known.
The IPO could happen by the end of this year or early 2022, two of four sources said. It would be one of the biggest ever stock market debut of a South American company, putting it on a par with other…
