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Overview
- Shares listed under the ticker PICS at $19 each for about 22.9 million shares, opening after a nearly three-hour auction and starting up roughly 3.5%.
- Most outlets pegged the company’s market value near $2.6 billion at the IPO price, though one report cited a higher $4.6 billion figure.
- Backed by J&F, PicPay has shifted from a payments wallet to a bank-style, credit-led model, returning to profitability with about 66–67 million accounts.
- CEO Eduardo Chedid said the near-term plan centers on expanding credit products and staying focused on Brazil, with no short‑term BDR issuance or international rollout.
- Agibank launched a U.S. IPO the same day targeting up to about $828 million, while Citigroup, BofA Securities and RBC led PicPay’s deal and Bicycle Capital indicated a $75 million purchase.