January 29, 2019 / 7:00 PM / 6 months ago

Brazilian online lender Agibank considers U.S. IPO -CEO

SAO PAULO, Jan 29 (Reuters) - Brazilian online lender Banco Agibank SA is considering an initial public offering (IPO) in the United States, Chief Executive Marciano Testa said on Tuesday, adding to a wave of Brazilian tech companies opting to go public in New York.

Testa told journalists a U.S. IPO was an option if the government changes the current process for authorizing foreign capital in banks.

Newly inaugurated President Jair Bolsonaro has said the central bank should be put in charge of authorizing foreign capital in banks, which could accelerate license issues.

Testa did not say when an IPO may happen.

In 2018, Agibank was planning a stock market debut valuing the online lender at around 10 billion reais ($2.7 billion), but it struggled to lure investors during a volatile election year.

Last year, three Brazilian companies listed their shares in New York: payment processors StoneCo Ltd and PagSeguro Digital Ltd and educational software firm Arco Platform Ltd.

$1 = 3.7232 reais Reporting by Carolina Mandl; Editing by David Gregorio

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