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Nubank, the Brazilian digital bank backed by Warren Buffett's Berkshire Hathaway, has hired Morgan Stanley, Goldman Sachs and Citigroup to help lead its U.S. initial public offering, a source familiar with the matter said on Monday.
Reuters reported in June that Nubank had invited investment banks to pitch for roles in the upcoming IPO, which could value the company at more than $40 billion. At that valuation, Nubank's IPO would be one of the biggest- ever stock market debuts of a South American company, putting it on par with other high-profile offerings such as that of online brokerage Robinhood Markets Inc, which went public in July. Nubank is expected to file for the IPO by the end of this year or early 2022, sources have told Reuters.
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