AGI (Agibank), a Brazilian digital bank providing social security-backed loans to underserved customers, announced terms for its IPO on Thursday.
The Campinas, Brazil-based company plans to raise $720 million by offering 43.6 million shares at a price range of $15 to $18. At the midpoint of the proposed range, AGI (Agibank) would command a market cap of $3 billion.
AGI operates as a technology-driven provider of specialized financial services in Brazil, focusing on underserved segments such as social security beneficiaries and public and private sector workers. It serves 6.4 million active clients across 1,101 asset-light Smart Hubs, which are paperless and cashless, in 723 cities as of September 30, 2025. AGI offers loans and advances to individual customers (92% of 9mo25 net interest income), fixed income securities (8%), and loans to credit institutions (<1%). In 2025, Brazil's social security agency handed the company two temporary suspensions, citing contractual non-compliance, irregularities, and certain business practices.
AGI (Agibank) was founded in 1999 and plans to list on the NYSE under the symbol AGBK. Goldman Sachs, Morgan Stanley, Citi, Bradesco BBI, BTG Pactual, Itau BBA, Santander, Societe Generale, and XP Investimentos are the joint bookrunners on the deal. It is expected to price the week of February 9th, 2026.
