PicPay (PICS Proposed), one of Brazil’s largest digital banking platforms, showed its cards when it filed the terms for its $400 million IPO early today – Tuesday, Jan. 20, 2026: The IPO consists of 22.86 million terms at a price range of $16.00 to $19.00. PicPay would raise $400.01 million, if the IPO is priced at the $17.50 mid-point of its range.
PicPay, based in Sao Paulo, Brazil, and known for payroll loans, had $1.7 billion in revenue for the 12 months that ended Sept. 30, 2025, according to the prospectus.
Bankers plan to price PicPay’s IPO next Wednesday night, Jan. 28, 2026, to trade Thursday, Jan. 29, on the NASDAQ.
Citigroup, BofA Securities and RBC Capital Markets are the global coordinators of the IPO, according to the prospectus.
The billionaire Batista brothers – Joesley Mendonca Batista and Wesley Mendonca Batista – will control PicPay after the IPO when they will own PicPay stock with 96.4 percent of the voting power, the prospectus said. The Batista brothers run JBS S.A., the world’s largest meat-packing company.
(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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