Brazil’s Agibank seeks up to $3.3 billion valuation in US IPO

Jan 29 (Reuters) – Sao Paulo-based fintech Agibank said on Thursday it was seeking a valuation of up to $3.3 billion in its U.S. initial public offering, as Brazilian financial firms test investor appetite for overseas listings after years of muted issuance.

The digital bank is aiming to raise up to $785.5 million in the IPO by offering roughly 43.6 million shares priced between $15 and $18 apiece.

IPO activity has been sparse for Brazilian companies amid high interest rates and volatile markets, but its momentum is returning as companies press ahead with U.S. listings early in 2026.

In the U.S., the IPO market picked up pace towards the end of 2025 and into the new year, with analysts betting on a robust pipeline of listings as investor interest returns following Federal Reserve rate cuts.

Agibank’s filing coincides with the New York debut of PicPay, another Brazilian digital bank.

Agibank operates a hybrid banking model, combining digital services with a nationwide network of more than 1,100 physical service hubs across Brazil.

It focuses on payroll‑deducted and benefit‑linked loans to retirees, pensioners and salaried workers, which it says is a segment often underserved by traditional banks and digital-only rivals.

The company was founded by Marciano Testa in 1999 and was later rebranded as Agibank after it obtained a full banking license in 2016.

Goldman Sachs, Morgan Stanley, and Citigroup are the global coordinators for the listing.

Agibank will list on the New York Stock Exchange under the symbol “AGBK”.

(Reporting by Pritam Biswas and Pragyan Kalita in Bengaluru; Editing by Pooja Desai and Shreya Biswas)