NU Went Public With A Price Of $9 Per Share: What Should You Do?

On Wednesday, the company announced its initial public offering price for 289,150,555 ordinary shares, respectively filed in the United States. And the company got off to a good start with its public debut at 25% above the initial public offering price. Till today the stock market is continuously soaring by illustrating a positive tends of almost 14% to $11.47 from the previous close of $10.33. At the same time, its total market cap equaled 47 billion dollars, and its trading volume is 88,442,170 shares.

The company’s initial public offering price was $9 per share, which was more than the predicted range of $8 to $9. Nevertheless, the company also gave a 30-day option to purchase an extra 28,571,429 Class A ordinary shares as an international NU placement. As I mentioned above, the company began trading on the NYSE yesterday, on December 9, under the symbol of NU, while on the Sao Paulo Stock Exchange, it will trade under the ticker symbol NUBR33. The net proceeds from the sale will be used for general company objectives, such as working capital, operating expenses, and capital expenditures. According to the report, a portion of the net proceeds may also be used by Nu to buy or invest in businesses, products, services, or technologies.