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Last Wednesday, Nubank disclosed the amount it will deliver to shareholders who decided to sell their BDRs. See the details!
Last Wednesday (13), Nubank sold the shares linked to Level III Brazilian Depositary Receipts (BDRs). This transaction took place on the U.S. stock exchange, one year after the bank chose to no longer be publicly traded in Brazil.
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In addition, Nubank also specified the amounts intended for those who chose to sell their Level III BDRs, whose period ended on August 11. Learn more about the topic below.
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How much will Nubank distribute for the BDRs?
Once the sale was completed, the average price achieved in the transaction was US$ 7.237 per security, according to the report presented by Nubank. However, since each BDR represents one-sixth of a share, each security is worth US$ 1.206.
Therefore, taking into account the exchange rate on the 8th, according to Nubank, shareholders will receive approximately R$ 5.980776716 per BDR from the bank. The institution also clarified that this amount already deducts the taxes applicable to the share.
Next Friday (15), Bradesco will direct the funds to the Stock Exchange Depository Center (B3). This entity holds Nubank’s BDR program. Thus, the national stock exchange will direct the amount to the former owners of the Level III BDRs.
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What alternatives were available for changing the BDRs?
When it announced the discontinuation of its services related to Level III BDRs, Nubank provided shareholders with three alternatives between July 13 and August 11 of the current year.
Thus, they could replace the BDRs with securities on the U.S. stock exchange, convert the Level III BDRs into Level I BDRs, or sell them. Consequently, those who chose the last alternative will receive the amounts mentioned above. Those who made no decision within that period also fall into this group.
