The Brazilian digital bank was worth $ 52 billion when it went public.
(Photo: Reuters)
Frankfurt US investors are scrambling for shares in the fintech Nubank. The paper of the Brazilian online bank rose to the IPO on the New York Stock Exchange to 11.25 dollars and are 25 percent above their issue price of nine dollars. This makes the institute worth $ 52 billion on the stock exchange, making Nubank the most valuable financial institution in Latin America.
Nubank had raised $ 2.6 billion from investors on Wednesday. The donors also include Berkshire Hathaway, the conglomerate of star investor Warren Buffett. Berkshire reportedly bought 10 percent of the shares Nubank issued when it went public.
Berkshire has not participated in tech startups and IPOs for a long time, but has recently deviated from them more and more often. In June, the Omaha, Nebraska-based company took a stake in the Brazilian fintech, at the time with $ 500 million. Other donors include Sequoia Captial, Tiger Global and the Founders Fund from tech investor Peter Thiel.
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