Brazilian digital bank PicPay targets $2.5 billion valuation in US IPO

Jan 20 (Reuters) - PicPay said on Tuesday it was targeting a valuation of up to $2.46 billion in its long-sought U.S. ​initial public offering, as Brazilian issuers return to New ‌York after years-long drought. The Sao Paulo-based Brazilian digital bank is aiming to raise up ‌to $434.3 million in the IPO by offering roughly 22.9 million shares priced between $16 and $19 apiece. PicPay, backed by Brazilian billionaire brothers Wesley and Joesley Batista's J&F Investimentos, had previously pursued a U.S. ...