Toronto Stock Exchange (TSX) announced today that Nuvei Corporation (Nuvei), a Montreal-based global payment technology company, began trading this morning under the symbolTSX:NVEI.
Nuvei's initial public offering (IPO) and Secondary Offering is expected to raise US$700 million, representing the largest technology IPO in Quebec history by amount raised and market capitalization, and the largest dollar amount raised by a technology company in TSX history.
"Toronto Stock Exchange is proud to welcome another great Canadian tech story to our market and to celebrate the continued phenomenal growth of this sector in Quebec," said Loui Anastasopoulos, President, Capital Formation, TMX Group. "Our premier equities market enables technology companies like Nuvei to gain access to global investors and the capital they need to achieve their growth objectives. We remain committed to supporting the long-term success of visionary growth companies. On behalf of Toronto Stock Exchange, we congratulate the Nuvei team on its IPO."
Nuvei was founded by Montreal native Philip Fayer, the company's Chairman and CEO, and provides payment solutions to merchants, technology and distribution partners, serving companies in North America, Europe, Asia Pacific and Latin America. Nuvei counts over 780 employees and services more than 50,000 customers around the world. The company supports a vast number of local and alternative payment methods in nearly 150 currencies and is backed by Novacap and Caisse de dépôt et placement du Québec (CDPQ).
"Nuvei was built with the goal of connecting business owners with their customers, no matter where or how they do business, helping merchants leverage technology to make payment transactions frictionless," stated Fayer. "As we continue to grow globally, we are proud to represent our roots in Quebec and partner with TSX to put our company on the world stage for investors, while maintaining a keen focus on building value for shareholders, employees, partners and customers, alike."
Fayer and the Nuvei team celebrated the listing earlier this morning by virtually opening the market.
As of August 31, 2020, there were 211 technology companies listed on both TSX and TSX Venture Exchange with a combined market capitalization of $289 billion.