Thursday, March 23, 2023
Home Technology For Brazilian shareholders, Nubank's IPO has a bitter aftertaste • TechCrunch

For Brazilian shareholders, Nubank’s IPO has a bitter aftertaste • TechCrunch

Welcome to The TechCrunch Alternate, a weekly startups-and-markets e-newsletter. It’s impressed by the daily TechCrunch+ column the place it will get its identify. Need it in your inbox each Saturday? Enroll here.

In 2021, we questioned whether or not Brazil could be in for an IPO bonanza. It hasn’t occurred: Not solely is Latin America’s largest financial system going via the identical IPO drought as the remainder of the world, but in addition one in every of its highest-profile public listings, Nubank, is coming to a sudden finish. Let’s discover. — Anna

What does it imply?

Nubank is one in every of Latin America’s preeminent neobanks, so when its mother or father firm, Nu Holdings, determined to go public with a twin itemizing in New York and São Paulo, the operation was one of the crucial anticipated exits of 2021 amongst observers of Brazil and fintech.

There have been some bumps on Nubank’s highway to IPO — as an example, when it repriced its shares from $11 to $9 forward of its exit. However the truth that its debut on December 9 went okay and that its market cap, whereas down, hasn’t plummeted both, might be thought-about a relative success.

Quick-forward to final week, when shocking information emerged: “Nubank to Delist from Brazil’s B3 Inventory Alternate,” a Bloomberg Línea headline read. There’s extra nuance to it: Because the article detailed, the fintech firm will really “restructure its Brazilian Depositary Receipts (BDRs) program with the conversion from Degree III to I.” Confused? You aren’t alone.

Source link


Censorship, lockdowns, arbitrary bans — Twitter is turning into the China of social media • TechCrunch

Wow, that was fast. When Elon Musk bought Twitter and took it private in October, I figured we’d have some time earlier than issues...

With IT spending forecast to rise in 2023, what does it mean for startups? • TechCrunch

It relies on how integral you're to the CIO’s plans Though we’re in a interval of financial uncertainty, I come bearing excellent news: All...

New VC rules, AI biotech investor survey, Instagram ad case study • TechCrunch

When a cat is scared, it could conceal below the sofa; a startled fish will swim right into a darkish gap. And when...


Please enter your comment!
Please enter your name here

Most Popular

Manhattan woman stabbed while taking out the trash in unprovoked stranger attack – New York Daily News

A lady taking out the trash in East Harlem was stabbed in an unprovoked assault from a stranger, police mentioned Wednesday.Because the 32-year-old...

Man, 37, shot dead in stairwell of Brooklyn NYCHA development – New York Daily News

A 37-year-old man was shot lifeless inside a Brooklyn public housing improvement, police mentioned Tuesday.The sufferer was discovered lifeless shot within the head...

Offspring of naturalized citizen can become U.S. citizen if under 18 – New York Daily News

Q. I just lately acquired naturalized as a U.S. citizen. If my son turns into a everlasting resident, will he robotically grow to...

‘American Cults’ shows how religious zealotry is huge part of U.S. history – New York Daily News

What’s the distinction between a cult and a church?Typically, it depends upon the place you stand.To the believers inside, their faith supplies steerage...

Recent Comments