Agibank, a fintech based in Brazil, announced on Wednesday that it has successfully priced its initial public offering (IPO) in the United States at $12 per share, which amounts to a significant total of $276 million factoring in an additional option for investors. The IPO involves 20 million Class A ordinary shares, and it also includes a 30-day option for coordinators to purchase up to 3 million additional shares at the IPO price. Major global coordinators for this IPO include prominent banks such as Goldman Sachs, Morgan Stanley, and Citigroup, alongside a syndicate that features Brazilian banks like Bradesco BBI and BTG Pactual, signaling strong interest and backing from both local and international investors.

Interestingly, the pricing of Agibank's IPO reflects a strategic adjustment; the set price is at the lower end of the indicative range that was initially set between $12 to $13, having previously been reduced from an initial proposal of $15 to $18. This adjustment highlights the growing competitiveness in the fintech space, especially following the recent IPO of Agibank's digital rival PicPay, which went public on the Nasdaq just last month, marking a noteworthy trend in Brazilian fintech entering the global market. Agibank's move indicates the company's ambitions to expand and solidify its position in the international financial landscape, catering to the growing demand for fintech solutions.