AGI (AGBK), a Brazilian banking company, priced its IPO at $12.00 – the low end of its sharply reduced price range set earlier today – and sold 20 million shares – matching today’s big cut in the deal’s number of shares – to raise $240 million on Tuesday night, Feb. 10, 2026. Earlier today, AGI downsized its deal by about 65 percent in an amended SEC filing that revealed a sharp cut in both the number of shares and the price range. Under its original terms, AGI’s IPO consisted of 43.64 million shares at a price range of $15.00 to $18.00 to raise $720 million, according to its previous SEC filings. (Editor’s Note: This story, published Tuesday night, was updated at midday on Wednesday, Feb. 11, 2026, with news of AGI’s (AGBK) debut on the NYSE.)
The steep cut in AGI’s IPO came amid the 20 percent slide in PicS (PICS), also known as PicPay, a digital Brazilian banking company that went public in late January.
AGI’s IPO sank in its New York Stock Exchange debut at midday on Wednesday, Feb. 11, 2026 – dropping $1.00 to open at $11.00 on volume of about 2 million shares.
At pricing, AGI had a market cap of about $1.92 billion.
Goldman Sachs, Morgan Stanley and Citigroup were the lead book-runners.
AGI caters to an older and more rural clientele in Brazil, in comparison with PicS, whose digital banking customers tend to be Millennials or Gen Z or younger. AGI serves its customers with a combination of physical offices and online services.
AGI is profitable, according to the financial statements in the prospectus. AGI earned net income of $193.45 million on revenue of $1.86 billion for the 12 months that ended Sept. 30, 2025.
(For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)
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