Most Read from BloombergPicPay, as the company is known, sold 22.86 million shares at $19 each, the top of the marketed range, according to a statement confirming an earlier Bloomberg News report. At the IPO price, the Sao Paulo-based company has a market value of $2.5 billion based on the outstanding shares listed in its filings. The IPO is the first sizable Brazilian debut since Nu Holdings Ltd., the country’s biggest digital bank, went public on the New York Stock Exchange in 2021. Nubank, as the company is known, now has a $90.7 billion market value. PicPay had net income of 270.4 million reais ($52 million) on revenue of 7.26 billion reais in the nine months ending Sept. 30, versus net income of 150.8 million reais on revenue of 3.78 billion reais in the corresponding period a year earlier, according to the filing.