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PicPay, controlled by the billionaire Batista family, debuts on Nasdaq on Thursday.
PicPay raised $434 million in its Nasdaq IPO, breaking a four-year drought for Brazilian listings.
KEY POINTS
- Existing PicPay shareholders experienced about 21% dilution after the IPO, valuing the firm at $2.6 billion.
- Bicycle Capital, led by ex-SoftBank executives, committed $75 million to PicPay's offering.
- PicPay's IPO includes a 30-day option for underwriters to buy more shares, potentially raising $500 million.
COMPANIES
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