Nine months after its debut on the Brazilian B3 exchange, Nubank (NU) announced Thursday evening that it will restructure its BDR (Brazilian Depositary Receipts) program, transforming it from Level III to Level I.
In practice, the company will no longer be listed on B3, but only on the New York Stock Exchange.
Nubank said in a statement to the market that it took this decision to increase efficiency and minimize the impact of listing a company in more than one country.
In May, Nubank debuted in Colombia’s capital markets through brokerage Acciones y Valores, which sponsors . . .
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