Brazilian mobile banking app PicPay is reportedly preparing for a US initial public offering (IPO) with a target of raising up to $500m. The company is collaborating with Citigroup, Royal Bank of Canada, and Bank of America for the potential listing, reported Bloomberg, citing sources. PicPay’s IPO could occur this year, though its timing may be impacted by the ongoing government shutdown affecting the US Securities and Exchange Commission (SEC). The SEC recently issued guidance potentially allowing mor ...