- Nuvei Corp. stock rallied higher in early Monday trading after word broke of a potential private buyout
- The Montreal-based company’s shares moved up more than 32 per cent after news of a possible buyout from private equity firm Advent International, according to a report from The Wall Street Journal
- Nuvei confirmed it is talking with third parties in connection with a potential transaction involving continued significant ownership by certain holders of multiple voting shares
- Nuvei stock opened trading at C$36.66 per share
Nuvei Corp. stock (TSX:NVEI) rallied higher in early Monday trading after word broke of a potential private buyout.
The Montreal-based company’s shares moved up more than 32 per cent after news of a possible buyout from private equity firm Advent International, according to a report from The Wall Street Journal.
Though its team wouldn’t comment on rumours or speculation, Nuvei confirmed it is talking with third parties in connection with a potential transaction involving continued significant ownership by certain holders of multiple voting shares.
However, the company stressed it has not signed any agreements or memos to bring about a privatization or similar transaction, and there are no guarantees that any of its discussions will materialize into anything. Even so, a special committee of independent directors has gathered to evaluate and consider these “expressions of interest” as well as any other strategic alternatives that might be available.
Nuvei is a Canadian fintech company offering modular, flexible and scalable payment processing technology in 150 currencies across hundreds of payment methods. One of its more famous investors is Canadian actor Ryan Reynolds.
Nuvei stock opened trading at C$36.66 per share and though it is up 6.43 per cent in the past month it has lost 35.71 per cent since this time last year.
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