Nubank opens program for customers in Brazil to become partners in its IPO

November 9, 2021
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Nubank clients can join the Client Program (NuSócios) by purchasing a BDR free of charge.

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With the forecast for the Initial Public Offering (IPO) scheduled for December, customers of Nu Invest, Nubank's investment platform, can become partners of the digital by accessing the application itself.

Upon entering the platform, users will have access to purchase a Brazilian Depositary Receipts (BDR), under trading code NUBR33 on B3. The BDRs made available are free of charge. However, holders can only trade after 12 months, when they can decide whether to hold or sell.

According to the prospectus, it is estimated that the price per BDR will be between R$9.35 and R$10.29. Also according to the document, the allocation for the program is 20,617,614 BDRs, in the total amount of R$ 202.5 million.

In a note, the bank estimates that the "little piece" will represent 1/6 of a class A common share of Nu Holdings, the leader of the Nubank group. The value of the shares must be confirmed at the end of the IPO, but must be between US$10 and US$11, listed on the NYSE.

Altogether, the total value of the global offer is calculated at US$ 3 billion or, approximately, R$ 16 billion. According to the third quarter balance sheet, the bank reached 35.3 million monthly active customers.

According to the bank, the initiative is intended to provide an opportunity for more people to start investing not only in fixed income, but also in variable income. “It's a chance for the client to enter the universe of the Stock Exchange with the tip of his foot, without having to pay anything for it. And, from there, understand more about investments as a whole in practice”, says the institution.

In October, the B3 Brazilian Stock Exchange reached the mark of 4 million registered individual variable income accounts. With Nubank's offer, the expectation is that this number will be multiplied.

The digital bank, considered one of the most valuable fintechs in the world, has already attracted names such as singer Anitta, a member of the Executive Board, and Warren Buffett, who made a US$ 500 million investment by Berkshire Hathaway in June this year.

Eligibility

To be eligible, you must have an individual Nu Payments account within two calendar days of the last day of the membership period; have a Nubank account available for transactions; not have outstanding debt; have account movement in the last 30 days; and accept the terms.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

With the forecast for the Initial Public Offering (IPO) scheduled for December, customers of Nu Invest, Nubank's investment platform, can become partners of the digital by accessing the application itself.

Upon entering the platform, users will have access to purchase a Brazilian Depositary Receipts (BDR), under trading code NUBR33 on B3. The BDRs made available are free of charge. However, holders can only trade after 12 months, when they can decide whether to hold or sell.

According to the prospectus, it is estimated that the price per BDR will be between R$9.35 and R$10.29. Also according to the document, the allocation for the program is 20,617,614 BDRs, in the total amount of R$ 202.5 million.

In a note, the bank estimates that the "little piece" will represent 1/6 of a class A common share of Nu Holdings, the leader of the Nubank group. The value of the shares must be confirmed at the end of the IPO, but must be between US$10 and US$11, listed on the NYSE.

Altogether, the total value of the global offer is calculated at US$ 3 billion or, approximately, R$ 16 billion. According to the third quarter balance sheet, the bank reached 35.3 million monthly active customers.

According to the bank, the initiative is intended to provide an opportunity for more people to start investing not only in fixed income, but also in variable income. “It's a chance for the client to enter the universe of the Stock Exchange with the tip of his foot, without having to pay anything for it. And, from there, understand more about investments as a whole in practice”, says the institution.

In October, the B3 Brazilian Stock Exchange reached the mark of 4 million registered individual variable income accounts. With Nubank's offer, the expectation is that this number will be multiplied.

The digital bank, considered one of the most valuable fintechs in the world, has already attracted names such as singer Anitta, a member of the Executive Board, and Warren Buffett, who made a US$ 500 million investment by Berkshire Hathaway in June this year.

Eligibility

To be eligible, you must have an individual Nu Payments account within two calendar days of the last day of the membership period; have a Nubank account available for transactions; not have outstanding debt; have account movement in the last 30 days; and accept the terms.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.
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