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Agibank Raises $240 Million in Scaled-Back NYSE IPO Priced at $12

Investor caution after PicPay’s slump prompted the Brazilian lender to pursue conservative pricing with a primary-only deal.

A view shows the New York Stock Exchange (NYSE) Wall Street entrance in New York City, U.S., April 7, 2025. REUTERS/Kylie Cooper
The Wall Street sign hangs outside the New York Stock Exchange (NYSE) building in New York City, U.S., March 11, 2025. REUTERS/Shannon Stapleton/File Photo
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Overview

  • The São Paulo-based digital bank sold 20 million shares at $12 each, implying a $1.92 billion valuation.
  • Tuesday’s amended SEC filing cut the deal from roughly 43.6 million shares at $15–$18 to 20 million at $12–$13.
  • Analysts say the fully primary offering limits immediate insider selling yet could create a future stock overhang.
  • Recent weakness in newly listed peer PicPay, down about 20% since its January debut, weighed on investor appetite.
  • Agibank is set to trade on the NYSE under ticker AGBK today, with Goldman Sachs, Morgan Stanley and Citigroup as global coordinators.