The IPO Buzz: AGI (AGBK) Prices IPO at $12 – Low End – After Drastic Cut in Size
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.
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 is expected to start trading tomorrow – Wednesday, Feb. 11, 2026 – on the New York Stock Exchange. 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.
Source: https://www.iposcoop.com/37715-2/
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