Buffett's Capital Injection, NuBank, The World's Largest Digital Bank, Is Valued At Over 50 Billion

The Brazilian financial technology company Nubank, which Buffett invested in, filed an application with the US Securities and Exchange Commission on November 1st, Eastern Time, and plans to list on the New York Stock Exchange under the stock code "NU".

The company plans to issue 289.2 million shares at a price of US$10 to US$11, including shares in the form of BDR, to raise US$3 billion. At the midpoint of the proposed range, NuBank's market value will reach 50.8 billion U.S. dollars.

This will be the third largest IPO in the United States this year. The company's $50.8 billion valuation sought in this IPO will make it one of the largest companies in Latin America.

Morgan Stanley, Goldman Sachs, C NuInvest, Allen&Company, HSBC, and UBS Investment Bank are the joint underwriters of the transaction.

It is worth noting that as early as 2014, when NuBank was established only two years ago, it received a capital injection of US$14 million from Sequoia Capital. In October 2018, Tencent invested nearly US$200 million in this Fintech company at a valuation of US$4 billion and obtained 5% of the shares.