Valuation falls by 34%, fundraising size plummets by 65%: Brazilian digital bank Agibank (AGBK.US) significantly cuts price before US IPO.

Brazilian digital bank Agibank (AGBK.US) announced a significant reduction in fundraising size on the eve of its highly anticipated debut IPO in the United States. According to the latest regulatory filings, the company, headquartered in Campinas, Brazil, plans to issue 20 million new shares, aiming to raise $250 million, with an offering price range set at $12 to $13 per share. It is worth noting that the oversubscription portion will all be done through primary market new share issuance (rather than the previously planned secondary market sale of existing shares). Compared to the previous issuance plan - which planned to issue 43.6 million shares with an offering price range of $15 to $18 per share - based on the revised offering price range midpoint, the fundraising size this time will be reduced by 65% from the original expectations, with an expected fully diluted market value of $2 billion, down 34% from the original midpoint market value. Agibank focuses on providing loan services with social security as the repayment source for underserved customer groups. On Tuesday, the bank significantly reduced the proposed scale of its upcoming IPO, which directly reflects its close peer - PicPay, which recently went public with weak trading performance, with PicPay's stock price falling 20% from its IPO price. Founded in 1999, Agibank achieved $1.1 billion in sales in the 12 months ending September 30, 2025. The bank plans to list on the New York Stock Exchange under the ticker symbol AGBK. The offering is jointly managed by Goldman Sachs Group, Inc., Morgan Stanley, Citi, Banco Bradesco S.A. Sponsored ADR, BTG Pactual, Itau Unity Bancorp, Inc.BBA, Banco Santander S.A. Sponsored ADR, French Industrial Bank, and XP Investimentos, and is expected to be priced in the week of February 9, 2026.