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PicPay said it sold about 22.9 million Class A shares in the offering, raising about $434 million.
PicPay priced its U.S. IPO at $19 per share, the top of the indicated range.
KEY POINTS
The offering raised approximately $434 million by selling about 22.9 million Class A shares.
Underwriters have a 30-day option to buy 3.4 million more shares, potentially raising $500 million.
PicPay previously abandoned a 2021 U.S. listing attempt due to unfavorable market conditions.
SAO PAULO, Jan 28 (Reuters) - Brazilian digital bank PicPay priced its U.S. initial public offering on Wednesday at $19 per share, at the top of the indicated price range, the company said.
PicPay said it sold about 22.9 million Class A shares in the offering, raising about $434 million.
Underwriters have a 30-day period to exercise the option to purchase an extra 3.4 million shares, which could potentially raise the deal to approximately $500 million, PicPay said.
The digital bank, backed by Brazilian billionaire brothers Wesley and Joesley Batista's J&F Investimentos, had previously pursued a U.S. listing in 2021 but dropped that plan due to market headwinds.
Citigroup, Bank of America and RBC Capital Markets acted as global coordinators for the offering, with Mizuho, Wolfe and Nomura Alliance, Bradesco BBI, BB Securities, BTG Pactual and XP also serving as bookrunners.
Reuters reported earlier on Wednesday, citing a source, that PicPay was set to price its IPO at the top of the indicated price range of $16 to $19 per share.
(Reporting by Luciana Magalhaes; Writing by Gabriel Araujo; Editing by Brad Haynes, Chizu Nomiyama and Chris Reese)