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Caisse-Backed Payment Tech Firm Nuvei Files for IPO in Canada

Sept. 1, 2020, 8:34 PM

Nuvei Corp., which supplies payment technology to the sports betting industry as well as other vendors, has filed for an initial public offering in Canada.

The Montreal-based company and selling shareholders didn’t disclose how much they’re planning to raise or the IPO price in Tuesday’s regulatory filing. It will use the IPO proceeds to pay down debt.

The company was valued at $2 billion in December, when shareholders Caisse de Depot et Placement du Quebec and private equity firm Novacap Investments Inc. helped raise $270 million in equity. The IPO is expected to increase that valuation, Bloomberg News reported last ...