Agi Inc. slashed its US initial public offering price range and reduced the planned size by half just hours before the scheduled sale, according to Bloomberg Markets. The Brazilian fintech company made the dramatic move as shares of PicS NV tumbled 20% in recent trading.

Agibank's decision to cut its IPO terms so close to the offering reflects growing investor caution in the fintech sector. The company had initially planned to raise significant capital through the US listing but faced mounting pressure from market conditions. The timing suggests Agibank executives saw deteriorating sentiment toward fintech valuations and competitor performance as a warning sign.

The IPO reduction marks a significant setback for Agibank's growth ambitions and could signal broader challenges for emerging market fintech companies seeking US listings. With PicS NV shares declining sharply, investors appear increasingly skeptical of high-growth fintech valuations amid rising interest rates and economic uncertainty.