Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, September 11, 2020

Article Excerpt

NUVEI CORP. has filed paperwork with regulators for an initial public offering (IPO) of common shares. The stock will trade on Toronto under the symbol NVEI. The listing could raise between $500 million and $600 million. Like a number of tech companies, including Shopify and Alphabet, Nuvei is planning a dual-class share structure. The multiple-voting shares—which will be controlled by the current owners—will each hold 10 votes, while holders of the subordinate shares will get one vote per share. Founded in 2003, Montreal-based Nuvei produces software to help businesses worldwide process payments. The company’s clients are largely in the online gambling and retail segments as well as the broader financial services sector. The company’s technology platform aims to let merchants accept payments in nearly 150 currencies. The platform lets their customers transact using 450 alternative payment methods such as Visa, MasterCard, Apple Pay, Alipay and so on. In the year ended June 30, 2020, Nuvei’s platform processed more than $35.3 billion U.S. in transactions…

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