Agibank, a Brazilian fintech, has announced the pricing of its initial public offering (IPO) in the United States at $12 per share, amounting to a total of $276 million with the inclusion of an additional option. The offering consists of 20 million Class A ordinary shares, and the underwriters have a 30-day option to purchase up to 3 million additional shares at the IPO price. The IPO is being led by investment giants Goldman Sachs, Morgan Stanley, and Citigroup, alongside a syndicate that includes other notable financial institutions such as Bradesco BBI and BTG Pactual.

The pricing falls at the lower end of the previously indicated range, which was adjusted downward from an initial proposal of $15 to $18 per share. Moreover, Agibank has scaled back the size of the offering, indicating potential market conditions that may have influenced this decision. The IPO of Agibank comes on the heels of a similar move by the rival digital bank PicPay, which went public on the Nasdaq last month, marking a significant shift in the Brazilian fintech landscape.

This development reflects the increasing appetite for Brazilian fintechs among international investors, even amidst challenging market conditions. The successful pricing of Agibank's IPO could pave the way for further offerings in the sector, influencing how Brazilian startups attract capital and expand their operations on a global scale.