Buffett-Backed Nubank Is Said to Consider Cutting IPO Valuation

Nu Holdings, the Brazilian digital bank backed by billionaire Warren Buffett’s Berkshire Hathaway Inc., is considering scaling back the potential valuation of its initial public offering, according to people familiar with the matter.

Nubank, as the firm is known, has weighed trimming the proposed price range of $10 to $11 per share following a global rout in technology stocks, the people said, asking not to be identified because the matter isn’t public. A potential new price range couldn’t be learned, deliberations are ongoing and no final decision has been made.

Nubank declined to comment. The bookbuilding process is ...