Nuvei Offers 1.5M Voting Shares in US IPO

Global payments technology platform Nuvei Corporation on Tuesday (Oct. 5) announced it’s selling 1.5 million subordinate voting shares in the company in the U.S. and Canada as its initial public offering (IPO) in the U.S.

Nuvei has applied to list the shares on Nasdaq under the symbol NVEI, with trading set to begin once a price is set for the shares. Once the U.S. offering is completed, Nuvei will apply to have its subordinate voting under the symbol NVEI.U on the Toronto Stock Exchange delisted and instead become traded on TSX in Canadian dollars under the symbol NVEI.

Goldman Sachs & Co. LLC, Credit Suisse, J.P. Morgan, BMO Capital Markets and RBC Capital Markets will act as bookrunners for the underwriters and Nuvei’s IPO will be “priced in the context of the market,” according to the company announcement. The price per share and size of the offering will be based on when Nuvei inks an underwriting agreement.

Nuvei plans to use the proceeds from its IPO for growth, according to the company 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 both the U.S. and Canada.

Related: Limonetik, Nuvei Team on EU Vendor Payment Capabilities

Nuvei Corporation recently joined forces with payment and marketplace platform Limonetik to boost its services in Europe and drive global expansion.

The partnership allows Limonetik to capitalize on Nuvei’s European acquiring services and integrate international acquiring and enables clients using Limonetik’s marketplace platform to accept a wider range of payments.

As a result of the collaboration, Limonetik’s marketplace clients will benefit from Nuvei’s authorization optimization features and its single integration payment facilitation model.

Marketplace merchants will gain end-to-end payment services in the EU and the U.K. as a result of the deal. Plans are also in the works to expand the services to the U.S.