Nubank to Debut on Colombian Stock Exchange on May 31

Brazilian fintech and neobank Nu Holdings, which also operates in Colombia and Mexico, has traded on the NYSE since December and has a market capitalization of $16.6 billion

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Bogotá — Nubank will list on the Colombian Stock Exchange on May 31, six months after its debut on the New York Stock Exchange, when the fintech was valued at around $41.4 billion.

The company will be part of the Colombian Global Market, with the participation of brokerage firm Acciones y Valores, following an alliance with Trii as a trading platform.

Nubank is one of the 50 largest banks in the world and made its debut on Wall Street in December 2021, where it sold more than 800,000 shares.

The inclusion of the issuer on the Colombian bourse responds to the request of several users in Colombia, and the brokerage firm and the trading platform expect at least 50,000 investors to acquire shares.

In its debut on Wall Street, Nu Holdings’ share price reached $9, rising to a peak of $12.24. At the close of trading on May 25, the fintech’s shares closed at $3.59.

“We chose an asset such as Nubank, thinking of offering local investors the possibility of participating in the development of new business models such as this 100% digital financial entity, as well as offering different opportunities to our users to invest through the Trii application,” Luis Felipe Aparicio, commercial manager and leader of digital transformation at Acciones & Valores, said.

For the president of the Bolsa de Valores de Colombia (BVC), Juan Pablo Córdoba Garcés, “it is very gratifying to have new global assets such as Nubank, in which Colombians can invest in pesos, through a traditional commission agent, and from their cellphone, in the easiest, safest and most reliable way”.

And according to Carlos Guayara, co-Founder of Trii, “we want to continue improving and expanding the product portfolio that allows us to be the number-one investment application in Latin America, where our users always find options that fit their objectives and risk profile, in an easy, fast and safe way”.

The value of Nubank’s total assets reported during the fourth quarter of 2021 amounted to more than 110 billion reais ($23 billion).

During the last week, Trii has listed the shares of companies such as Éxito and Enka, Grupo de Energía de Bogotá, and the shares of Cemex Latam Holdings, bringing the number of investment options to the app’s users to 57, while the Colombian Global Market offers 24, among stocks and ETFs.