Brazilian payments firm Conductor has hired banks for an initial public offering in the United States that could come as early as this year, as Latin America's financial sector is enlivened by the arrival of several newcomers.
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Visa-backed payments firm Conductor readies U.S. IPO
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Conductor, which is backed by venture capital firm Riverwood Capital and payments processor Visa Inc, is a provider of technology for financial services. Its tools allow retailers, banks and financial startups to offer credit cards and payment wallets to their clients, for instance. Investment banking units of Goldman Sachs, JPMorgan, Bank of America and Credit Suisse will manage the offering, the sources added. None of those banks immediately commented on the matter. Should Conductor conclude a listing on a U.S. exchange, it will follow in the footsteps of two other Brazilian payments companies, StoneCo Ltd (STNE.O) and PagSeguro Digital Ltd (PAGS.N). Conductor has 95 million users and processes $20 billion in payments transactions per year in Latin America, according to the company's website.
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