TSX celebrates largest technology IPO (by
amount raised) in Exchange history with virtual market open
TORONTO, Sept. 17, 2020 /CNW/ - Toronto Stock Exchange
(TSX) announced today that Nuvei Corporation (Nuvei), a
Montreal-based global payment
technology company, began trading this morning under the symbol
TSX: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.
About TMX Group (TSX:X)
TMX Group operates global markets, and builds digital
communities and analytic solutions that facilitate the funding,
growth and success of businesses, traders and investors. TMX
Group's key operations include Toronto Stock Exchange, TSX
Venture Exchange, TSX Alpha Exchange, The Canadian Depository for
Securities, Montréal Exchange, Canadian Derivatives Clearing
Corporation, and Trayport which provide listing markets, trading
markets, clearing facilities, depository services, technology
solutions, data products and other services to the global financial
community. TMX Group is headquartered in Toronto and operates offices across
North America (Montréal,
Calgary, Vancouver and New
York), as well as in key international markets including
London and Singapore. For more information about TMX
Group, visit our website at www.tmx.com. Follow TMX Group on
Twitter: @TMXGroup.
This news release is not, and should not be construed as an
invitation to purchase the referenced securities or other
securities listed on TSX. TMX Group and its affiliates do not
endorse or recommend any of the referenced securities nor should
any statement in this news release be construed as advice regarding
a broad investment strategy. Listing on TSX does not guarantee the
future performance of a security or an issuer. Please seek
professional advice to evaluate specific securities.
SOURCE TMX Group Limited