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In 2021, we wondered whether Brazil might be set for an IPO bonanza. It offersn’t occurred: not merely is Latin America’s biggest economy going right through similar IPO drought once the remaining portion of the globe, and certainly one of its highest-profile general public listings, Nubank, is visiting an abrupt end. Let’s explore. — Anna
just what does it suggest?
Nubank is certainly one of Latin America’s preeminent neobanks, when its moms and dad business, Nu Holdings, went general public by having a double listing in nyc and São Paulo, the procedure ended up being one of the more expected exits of 2021 among observers of Brazil and fintech.
There happen some bumps on Nubank’s road to IPO — for example, with regards to repriced its stocks from $11 to $9 before its exit. Nevertheless the undeniable fact that its first on December 9 went fine which its market limit, while down, hasn’t plummeted either, might be considered a member of family success.
Fast-forward to a week ago, whenever astonishing news emerged: “Nubank to Delist from Brazil’s B3 stock market,” a Bloomberg Línea headline read. There’s more nuance to it: since the article detailed, the fintech business will in actuality “restructure its Brazilian Depositary Receipts (BDRs) system aided by the transformation from amount III to I.” Confused? You aren’t alone.