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Fintech firm Nayax starts trading on TASE after IPO of shares

12 7 2

The shares of fintech firm Nayax start trading on Thursday on the Tel Aviv Stock Exchange after the provider of cashless payments services raised NIS 430 million ($130 million) in an initial public offering of shares on the exchange.

The company said it sold 63.5 million ordinary shares at a price of NIS 10.50 a share, valuing the firm at $930 billion, it said in a statement.

Nayax will use the funds to expand its activities to new markets and for merger and acquisition activities, the statement said.

The company has also granted its underwriters a 30-day option to buy an additional 9.53 million ordinary shares at the initial public offering price, which will enable it to raise added funds.

Founded in 2005 by David Ben-Avi and Yair Nechmad, Nayax........

© The Times of Israel

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