Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, January 20, 2023

Article Excerpt

NUVEI CORP., $43.35, symbol NVEI on Toronto, produces software to help businesses worldwide process payments. Founded in 2003, Nuvei’s clients are largely in the online gambling and retail segments and the broader financial services industry. The company’s technology platform aims to let merchants accept payments in 150 currencies. In addition, the platform lets its customers use 586 alternative payment methods such as Visa, MasterCard, Apple Pay, Alipay, etc. In the year ended September 30, 2022, it processed more than $119 billion in payments. Nuvei launched its IPO and began trading on the Toronto exchange in October 2020. That’s when it sold shares to the public at $26 U.S. each. The stock also trades on Nasdaq under the same symbol. Like a number of tech companies, including Shopify and Alphabet, Nuvei has a dual-class share structure. The multiple-voting share—controlled by the firm’s owners before it went public—each hold 10 votes, while holders of the subordinate shares get one vote per share. On January 9, 2023,…