Nubank, a digital investment bank owned by Tencent, is preparing to enter the United States for an IPO with a target value of $ 50.6 billion (roughly 51 trillion in earnings).

Brazilian digital bank Nubank, backed by Tencent, filed a complaint with the U.S. Securities and Exchange Commission (SEC) on Monday, saying the company plans to raise more than $ 3 billion by announcing at least $ 289 million. 'shares priced between $ 10 and $ 11 respectively. provided. It will be the third largest IPO in the United States this year. The company will seek up to $ 50.6 billion in this IPO, making it one of the largest in Latin America.

Calculated from the top edge of the target, the company will be the 6th largest trading company and largest in Latin America.

Nubank made a private listing last week and said its Class A merchandise would be listed on the New York Stock Exchange and Brazilian Depository Securities (BDRs) would trade on the São Paulo Stock Exchange.

Tencent invested $ 180 million in Nubank in 2018 to minimize risk, and in June of this year, Buffett's Berkshire Hathaway invested $ 500 million in Nubank.

According to the data, Nubank was established in 2013 and is headquartered in Sao Paulo, Brazil. Nubank not only offers free international debit cards every year, but also offers NuConta, a free digital account, and Nubank Reward, an all-inclusive point-of-sale management service from one app. The product line has diversified over the years and now includes investments, personal loans, quick payments, life insurance and international returns.