SAO PAULO, Jan 28 (Reuters) - Brazilian digital bank

PicPay priced its U.S. initial public offering on Wednesday ‌at

$19 per share, at the top of the ​indicated price range, the

company said.

PicPay said ‍it sold about 22.9 million ⁠Class A ⁠shares in

the offering, raising about $434 million.

Underwriters have a ‌30-day period to ​exercise the option

to purchase an extra 3.4 million shares, which could ⁠potentially

raise the deal ‍to ​approximately $500 million, PicPay said.

The digital bank, backed by Brazilian billionaire

brothers Wesley and Joesley ‍Batista's J&F Investimentos, had

previously pursued a U.S. listing in 2021 but dropped that plan

due to market headwinds.

Citigroup ( C/PN ), Bank of America and RBC Capital

Markets ​acted ‍as global coordinators for the offering, with

Mizuho, Wolfe and Nomura Alliance, ​Bradesco BBI, BB Securities,

BTG Pactual and XP also serving as

bookrunners.

Reuters reported earlier on Wednesday, citing a source,

that PicPay was set to price its IPO at the top of ​the indicated

price range of $16 to $19 per share.