PicPay plans to conduct an IPO in the United States in the amount of $500 million. This is reported by foreign media.
PicPay attracted Citigroup Inc., Royal Bank of Canada and Bank of America Corp. as organizers of the placement of shares. Negotiations are ongoing and, accordingly, the volume of the IPO and the timing may change in parallel with the involvement of other banks.
In 2021, the company already applied for an IPO with the aim of increasing the market value to $ 8 billion, but in 2022 it refused to place shares.
PicPay is a Brazilian fintech company providing financial services, including digital wallets, credit cards, and various financial management tools for individuals and companies, including cash disbursement and e-commerce solutions. The family of billionaire Batista has invested in the company since 2015 and owns a stake through the investment holding J&F Participacoes. The headquarters is located in Sao Paulo (Brazil). The company's revenue is $821 million.
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