Nuvei, a Canadian provider of payment processing solutions to merchants and e-commerce platforms, filed on Monday with the SEC to raise up to $183 million in an initial public offering.
The Montreal, Canada-based company plans to raise $183 million by offering 1.5 million shares at $122, the as-converted October 1 close of its shares on the TSX (NVEI). At the proposed price, Nuvei would command a market value of $17.2 billion.
Nuvei is a global provider of payment technology solutions to merchants and partners in North America, Europe, Asia Pacific, and Latin America. Its solutions span the entire payments stack and include a fully integrated payments engine with global processing capabilities, a turnkey solution for frictionless checkout experiences and a broad suite of data-driven business intelligence tools and risk management services. Its technology platform allows merchants and partners to securely accept payments in over 200 markets worldwide with local acquiring in 45 markets and nearly 150 currencies, and for their customers to transact using over 500 alternative payment methods and nearly 40 cryptocurrencies.
Nuvei was founded in 2003 and booked $537 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol NVEI. Goldman Sachs, Credit Suisse, and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of October 4, 2021.
