Global law firm White & Case LLP has advised PicS N.V. (PicPay) on its US$434.3 million initial public offering, consisting of 22,857,143 Class A common shares at US$19.00 per share.
This is the first new stock listing by a Brazilian company in more than four years. The shares are listed on the Nasdaq Global Select Market and trade under the ticker symbol "PICS."
PicPay is one of the largest digital banks in Brazil by number of customers. PicPay began its operations with instant payments and the use of QR codes and has since evolved into a digital bank offering financial products and services such as digital wallets, credit cards, loans, "Buy Now Pay Later" (BNPL), investments and insurance to consumers and businesses.
The White & Case team was led by Capital Markets partners Donald Baker, John Guzman (both in São Paulo) and Karen Katri (Miami), and included Capital Markets partners Elodie Gal and Scott Levi (both in New York) and associate Beatriz Barros (São Paulo); and Tax partner Chad McCormick and associates Sadi Moradi and Kealan Hannes (all in Houston). Law clerk Camilo Vasquez (São Paulo) and Latin America Fellow Leonardo Gaspar (New York) also advised on the matter.
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