Nubank $2.6 billion IPO
Davis Polk advised Nu Holdings Ltd. (“Nubank”) on its $2.6 billion global initial public offering, consisting of an international SEC-registered offering of an aggregate of 281,062,825 Class A ordinary shares, at a price per share of $9.00 and concurrent offering in Brazil of an aggregate of 48,526,380 Brazilian depositary receipts (each representing 1/6th of a Class A ordinary share), at a price of R$8.36 per BDR. The shares are listed on the New York Stock Exchange under the symbol “NU” and the BDRs are listed on the B3 S.A. – Brasil, Bolsa, Balcão (São Paulo Stock Exchange) under the symbol “NUBR33.”
Nu Holdings Ltd. is one of the world’s largest digital banking platforms and one of the leading technology companies in the world.
The Davis Polk capital markets team included partners Byron B. Rooney and Manuel Garciadiaz, counsel Elliot M. de Carvalho and associates Tierney O’Rourke and Hugo Casella. The tax team included partner William A. Curran and associate Elina Khodorkovsky. Partner Adam Kaminsky advised on executive compensation. Corporate governance advice was provided by partner Ning Chiu. Members of the Davis Polk team are based in the New York, Northern California, São Paulo and Washington DC offices.