Nubank shares debut on New York Stock Exchange

Nubank shares made their debut on the New York Stock Exchange (NYSE), in the United States, this Thursday (9).

The day before, the digital bank was valued by investors at around US$41.5 billion (R$231 billion), making it the largest financial institution in Latin America by market value.

“[A abertura de capital] allows us to have a much greater impact than we’ve had so far. It’s very exciting, especially for the millions of Brazilians who are now our partners,” said Cristina Junqueira, co-founder of Nubank, during a ceremony at the American Stock Exchange this Thursday.

Approximately 815,000 people invested in digital bank BDRs in Brazil, making the offer the largest number of retail investors in the local market.

In addition, about 7.5 million people accepted a BDR free of charge through the NuSocios program. The BDRs are certificates representing a fraction of 1/6 of a share of Nu Holdings, the leading company of the Nubank group traded on the NYSE.

“Over 12 months, the pieces stay with Nubank, which will serve as merchant commissioner — basically, Nu will take care of these BDRs for a year, and at the end of that period, people will be able to decide what they want to do with their investment” , informed the bank.

B3, the Brazilian Stock Exchange, has around 3.5 million individual investors. “Therefore, NuSócios has the potential to double this number at the end of the 12-month journey — after all, even if all investors who are currently in B3 had asked for a little piece, the approximate number of 7.5 million people who accepted the BDR by NuSócios is already more than double the number registered at B3”, highlights fintech.

Anyone who decides to keep the BDRs a year from now must open an account at NuInvest (to accept the BDR, it was not necessary to have or open an account at NuInvest, only at Nubank), or request the sale of the BDR at market value and receive it as credit in account (minus B3 fees and taxes).

“It’s hard to describe in words what this moment means,” said David Vélez, co-founder of Nubank, during the NYSE ceremony. “We were crazy”, joked the executive, referring to the trajectory of the digital bank until now.