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Dec. 9, 2021, 1:12 p.m. EST

Nubank stock opens 25% above IPO price, valuing company at nearly $52 billion

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By Tomi Kilgore

Nu Holdings Ltd. /zigman2/quotes/231028167/composite NU -5.56% , also known as Nubank, received a warm reception in its public debut Thursday, as the Brazil-based digital banking platform's stock opened 25% above its initial public offering price, and kept rising. The company's IPO priced late Wednesday at $9 a share, compared with the expected range of between $8 and $9 a share, as the company raised $2.6 billion. The stock's first trade on the NYSE was at $11.25 at 1.07 p.m. Eastern for 14.1 shares. With about 4.61 billion total shares outstanding after the IPO, that first trading price valued the company at about $51.85 billion. The stock has extended gains since, to trade up 32.4% at $11.91. The company went public at a time when investors have shied away from recently IPO'd stocks, as the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -1.29% has tumbled 14.8% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.51% has gained 4.4%.

/zigman2/quotes/231028167/composite
US : U.S.: NYSE
$ 3.60
-0.21 -5.56%
Volume: 18.36M
May 23, 2022 11:19a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$17.67 billion
Rev. per Employee
$228,024
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 29.77
-0.39 -1.29%
Volume: 36,783
May 23, 2022 11:19a
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/zigman2/quotes/210599714/realtime
US : S&P US
3,960.11
+58.75 +1.51%
Volume: 784.97M
May 23, 2022 11:19a
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