Nubank cuts IPO price range

Brazilian fintech giant Nubank reduced the price range for its hotly anticipated public debut next week. The company announced it plans to offer roughly 289.2 million shares at $8 to $9 each, down from its prior range of $10 to $11. At $9 a share, the company could hit nearly a $41.5 billion valuation, down from its previous target of $50.6 billion.

Founded in 2013, Nubank raised $2.41 billion to date and was last valued at $30 billion in its Series G funding round. The start-up expects to trade the shares under the NYSE ticker NU and the São Paulo Stock Exchange using the symbol NUBR33.