The founder of Brazilian fintech Agi Inc., known as Agibank, Marciano Testa, became a billionaire this Wednesday despite a troubled debut on the New York Stock Exchange.
The company’s shares closed the first day of trading down 10%, after the company reduced, at the last minute, both the price and the volume of shares offered.
Even so, Testa’s 63% stake in Agibank became worth around US$1.1 billion, considering the closing price of US$10.75.
