Nuvei seeks to raise US$600-million in public share offering

But investors who buy in will get a tiny voting interest in the company, the payment processing company said in a regulatory filing

Curated via Twitter from Globe Technology’s twitter account….

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Like many other digital technology companies, Nuvei appears to have benefited from the impact of COVID-19, which has prompted people to spend more time and money online. “We believe the COVID-19 crisis will act as a catalyst in further accelerating mobile commerce and e-commerce transactions as consumers adapt to a ‘new normal’ (including the decline in use of cash) and as merchants shift to contactless and mobile payments to ensure business continuity,” the company said in its prospectus. Your time is valuable.

Montreal payment processing company Nuvei Corp. revealed Tuesday it plans to raise at least US$600-million in its initial public offering, setting a price range of US$20 to US$22 per subordinate voting share as it kicked off marketing efforts for the deal.

Shares of legal-software company Dye & Durham Ltd. and online-learning-software provider Docebo Inc. have soared since their IPOs within the past year, while the S&P/TSX Information Technology Index closed last week up 38. 5 per cent so far this year, led by Canadian commerce software giant Shopify Inc. , Canada’s most valuable company.

Investor enthusiasm for tech stocks has prompted other domestic software companies to consider going public, including Kitchener online-learning provider D2L Corp. and Montreal telemedicine startup Dialogue Technolgoies Inc. , which have both met with investment bankers in the past month to explore the option. Nuvei, founded by Mr.

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