Nubank shares opened up 25 percent on the NYSE debut on Thursday, December 9, giving the company a market cap of nearly $52 billion. Shares in the digital bank opened at $11.25, compared to an IPO price of $9.
In January, after a $400 million Series G funding round, the bank was worth $25 billion. Then in June, Nubank took $500 million, at a $30 billion valuation, from Warren Buffett, and as soon as the ink was dry on the deal momentum for the IPO began to become unstoppable.
On Wednesday, Nubank priced the IPO at the top of an indicative range that was lowered earlier, raising about $2.6 billion. The IPO had demand eight times greater than the supply, said a source with knowledge of the matter.
After three weeks, Nubank’s stocks are valued at $ 9.40, near an initial valuation of $41 billion.