PicPay, one of Brazil’s leading digital financial platforms offering a mobile wallet and payment ecosystem, completed its U.S. IPO and listing through its Dutch parent company, marking the first U.S. IPO by a Brazilian company in more than four years.

As part of the transaction, PicPay raised USD 434 million through the offering of 22.86 million Class A common shares at a price of USD 19 per share, implying an approximate USD 2.5 billion valuation at listing. The Class A shares trade on Nasdaq under the ticker PICS.

Our Capital Markets team advised on all Dutch law aspects of the IPO, including:

  1. the corporate structuring and governance framework of the Dutch parent company;
  2. Dutch legal requirements relating to the listing, offering structure and corporate approvals; and
  3. close coordination with international counsel teams in Brazil and the United States.

This transaction reflects our strong track record in cross‑border equity capital markets matters and our continued role in supporting innovative and fast‑growing companies in their international expansion.