Nuvei offers 1.5 million shares with voting rights on its initial public offering in the United States
Global payments technology platform Nuvei Corporation announced on Tuesday, October 5, the sale of 1.5 million subordinate voting shares of the company in the United States and Canada as part of its initial public offering ( IPO) in the United States.
Nuvei has applied to list the shares on Nasdaq under the symbol NVEI, with trading to begin once a price is set for the shares. Upon completion of the U.S. Offering, Nuvei will request that its subordinate voting rights under the symbol NVEI.U on the Toronto Stock Exchange be delisted and instead be traded on the TSX in Canadian dollars under the symbol NVEI.
Goldman Sachs & Co. LLC, Credit Suisse, JP Morgan, BMO Capital Markets and RBC Capital Markets will act as bookkeepers for the underwriters and the IPO of Nuvei will be “assessed against the backdrop of the market”, according to the company announcement. The price per share and size of the offering will be based on when Nuvei signs a bought deal agreement.
Nuvei plans to use the proceeds of its IPO for growth, according to the company’s announcement. The Company has also filed a preliminary prospectus supplement to its amended and restated short form base shelf prospectus dated May 20, 2021 in the United States and Canada.
Related: Limonetik, Nuvei Team on payment capabilities of EU suppliers
Nuvei Corporation recently partnered with payment and marketplace platform Limonetik to strengthen its services in Europe and boost its global expansion.
The partnership allows Limonetik to capitalize on Nuvei’s European acquisition services and integrate international acquisition and enables clients using Limonetik’s market platform to accept a wider range of payments.
As a result of this collaboration, Limonetik’s market customers will benefit from Nuvei’s authorization optimization features and its single-integration payment facilitation model.
Marketplace merchants will benefit from end-to-end payment services in the EU and UK as a result of the deal. Plans are also underway to expand services in the United States.