11.9 C
London
Saturday, November 26, 2022

Nubank’s IPO has a bitter aftertaste for Brazilian shareholders • londonbusinessblog.com

Must read

Biden eases sanctions on Venezuela as talks resume with opposition

WASHINGTON — The Biden administration eased some oil sanctions against Venezuela on Saturday in a bid to bolster resumed negotiations between President Nicolás Maduro's...

A new wave of Solo GP VCs is coming to Europe and Hypernova hopes to power it • londonbusinessblog.com

The US has had solo VC fund managers for many years, but the trend is only starting to catch on in Europe. One...

Amazon’s latest Kindle Paperwhite is still available for Black Friday price

Despite the arrival of Amazon's latest entry-level Kindle, the Kindle Paperwhite remains the best value in Amazon's current Kindle range. Fortunately, you can...

Efficient growth? No problem, say startups • londonbusinessblog.com

Welcome at the londonbusinessblog.com Exchange, a weekly newsletter for startups and markets. It is inspired by the daily londonbusinessblog.com+ column from which it...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

Welcome at the londonbusinessblog.com Exchange, a weekly newsletter about startups and markets. It is inspired by the daily londonbusinessblog.com+ column from which it takes its name. Every Saturday in your inbox? Register here.

In 2021 we wondered if Brazil could get an IPO bonanza. It hasn’t happened: Not only is Latin America’s largest economy going through the same IPO drought as the rest of the world, but one of its most prominent public listings, Nubank, is suddenly coming to an end. Let’s investigate. — Anna

What does it mean?

Nubank is one of the preeminent neobanks in Latin America, so when its parent company, Nu Holdings, decided to go public with a dual listing in New York and São Paulo, the operation was one of the most anticipated exits of 2021 among observers from Brazil and fintech .

There have been some bumps in Nubank’s road to the IPO — for example, when it repriced its shares from $11 to $9 prior to its exit. But the fact that the debut on December 9 went well and that the market cap, although low, has not been scuttled either, can be considered a relative success.

Fast-forward to last week, when surprising news emerged: “Nubank to cancel Brazilian B3 exchange,” headlined Bloomberg Línea read. There’s more nuance to it: As described in the article, the fintech company will actually “restructure its Brazilian certificates (BDRs) program with the conversion from Level III to I.” Confused? You are not alone.


More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Biden eases sanctions on Venezuela as talks resume with opposition

WASHINGTON — The Biden administration eased some oil sanctions against Venezuela on Saturday in a bid to bolster resumed negotiations between President Nicolás Maduro's...

A new wave of Solo GP VCs is coming to Europe and Hypernova hopes to power it • londonbusinessblog.com

The US has had solo VC fund managers for many years, but the trend is only starting to catch on in Europe. One...

Amazon’s latest Kindle Paperwhite is still available for Black Friday price

Despite the arrival of Amazon's latest entry-level Kindle, the Kindle Paperwhite remains the best value in Amazon's current Kindle range. Fortunately, you can...

Efficient growth? No problem, say startups • londonbusinessblog.com

Welcome at the londonbusinessblog.com Exchange, a weekly newsletter for startups and markets. It is inspired by the daily londonbusinessblog.com+ column from which it...

Why you should only start a business while you have a job

Opinions expressed by londonbusinessblog.com contributors are their own. Many people I meet tell me that they dream of starting their own business. I always...