Brazil’s PicPay sets sights on $2.5bn valuation for Nasdaq listing

Brazilian integer slope PicPay has officially launched its archetypal nationalist offering (IPO), targeting a valuation of $2.5bn.

The institution seeks to rise up to $434.3m successful the offering.

It plans to database its shares connected the Nasdaq Global Select Market nether the ticker awesome "PICS".

Earlier this month, the Sao Paulo-headquartered institution filed a registration connection registration with the US Securities and Exchange Commission for the IPO.

The offering consists of astir 22.9 cardinal Class A communal shares, priced betwixt $16 and $19 each.

Bicycle Capital, on with related entities described arsenic anchor investors, has indicated a non-binding volition to acquisition up to $75 cardinal of banal astatine the IPO price.

These expressions of involvement bash not obligate either enactment to implicit immoderate purchases.

Citigroup, BofA Securities, and RBC Capital Markets are the superior coordinators for the deal. Mizuho, Wolfe | Nomura Alliance, Bradesco BBI, BB Securities, BTG Pactual and XP Investment Banking articulation arsenic bookrunners, with FT Partners arsenic co-manager.

The institution volition besides supply underwriters with a 30-day enactment to get up to an further 3,428,572 shares astatine the archetypal price, excluding underwriting discounts and commissions.

PicPay is Brazil’s second-largest integer slope by lawsuit base.

The institution began by focusing connected instant payments and QR codification transactions earlier expanding its services to see integer wallets, recognition cards, loans, Buy Now Pay Later options, concern products and security for individuals and businesses.

The level counted much than 66 cardinal registered users nationwide by the 3rd 4th of 2025, of whom 42 cardinal were progressive successful that period.

For the archetypal 9 months of 2025, PicPay reported combined gross and fiscal income of $7.3bn reais (approximately $1.37bn) and a nett net of $313.8m reais (around $59m).

"Brazil’s PicPay sets sights connected $2.5bn valuation for Nasdaq listing " was primitively created and published by Retail Banker International, a GlobalData owned brand.

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