Brazil's Nubank raises $2.6 billion in top-of-range US IPO

Nubank warned investors to brace for "short-term profit implications" from the firm's expansion push

Nu Holdings Ltd., the Brazilian digital bank whose backers include Warren Buffett’s Berkshire Hathaway Inc., raised $2.6 billion in a U.S. initial public offering priced at the top of a marketed range it had earlier lowered.
 

The company, which does business as Nubank, sold 289 million shares Wednesday for $9 each after offering them for $8 to $9, according to a statement confirming an earlier report by Bloomberg News. Nubank had lowered the proposed range last week after earlier seeking to raise as much as $3.18 billion.

Berkshire bought 10% of the shares in the offering, said a person familiar with