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Nuvei’s Red-Hot IPO Marks Canada’s Largest Tech Offering – Bloomberg

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Payments company Nuvei Corp. jumped 31% in its trading debut on Thursday, riding the wave of demand for technology shares that has swept the globe in recent months.

Montreal-based Nuvei, which supplies payment technology to the retail, travel, gaming and other sectors, is among a cluster of firms benefiting from the shift to e-commerce during pandemic lockdowns. The deal raised $700 million, making it the biggest tech offering in the history of the Toronto Stock Exchange, the exchange said in a statement.

“The rebound in technology names is a good sign for the private tech companies with plans to publicly list their shares in the coming weeks,” CIBC analyst Stephanie Price wrote in a note. With tech IPOs such as Snowflake Inc. surging more than 100%, investor demand remains strong, she added.

Nuvei will take in proceeds $625 million before costs and fees, while $75 million goes to selling shareholders.

Information technology stocks are up 80% from their March 16 low on Canada’s largest exchange, compared to a 57% gain in the S&P 500 information tech index. Nuvei’s listing follows Dye & Durham Ltd.’s July offering, which raised C$172.5 million ($131 million). Another Montreal company in the merchant software business, Lightspeed POS Inc., raised C$276 million in an IPO last year.

Shares of Nuvei were priced at $26 but climbed as high as $35.04. They ended the day at C$45.05 ($34.12).

Backed by Caisse de Depot et Placement du Quebec and private equity firm Novacap Investments Inc., Nuvei has about 50,000 customers and supports transactions in nearly 150 currencies. The company connects business owners and customers “no matter where or how they do business,” Nuvei Chairman and Chief Executive Officer Philip Fayer said in an statement.

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The global mobile commerce and e-commerce market is expected to increase to $6.3 trillion by 2024 from $3.4 trillion in 2019, according to Nuvei’s prospectus, citing eMarketer, a market research company. Nuvei generated revenue of $245.8 million and adjusted Ebitda of $87.2 million for fiscal 2019, according to its prospectus.

Nuvei’s shares are trading on so-called “if-and-when-issued basis” until the offering closes on Sept. 22, according to a separate statement by the company.

(Updates market numbers in first paragraph and other details throughout the story.)

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    COVID-19 outbreak declared at school in East St. Paul – CTV News Winnipeg

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    WINNIPEG —
    COVID-19 outbreak declared at school in East St. Paul

    A school just outside of Winnipeg has declared an outbreak of COVID-19, according to the Manitoba government’s most recent bulletin.

    Bird’s Hill School, located at 3950 Raleigh St. in East St. Paul, has declared an outbreak of COVID-19 on Tuesday.

    The school is moving to the orange or restricted level on the province’s pandemic response system.

    In a statement sent Tuesday afternoon, the River East Transcona School Division confirmed there were five cases in the school within two classrooms. The two classrooms are in the grade 2/3 levels, the division said.

    The school is also taking steps to deal with the new restrictions.

    “We are moving furniture to ensure the two-metre distancing is done. Deep cleaning has been done to the affected classrooms and commonly touched surfaces and staff are ensuring that students follow protocols regarding handwashing, mask-wearing (when required), and social distancing,” the statement reads. “Busing is being revised to meet the orange designation for Bird’s Hill School students. The parents will be receiving information for optional remote learning for their children while the school is in orange status.”

    A provincial spokesperson said health officials have not ruled out in-school transmission at this time.

    Bird’s Hill School previously reported on Oct. 11 that a confirmed case of COVID-19 was in the school on Sept. 30, Oct. 1, and Oct. 2.

    OUTBREAK OVER AT WINNIPEG SCHOOL

    The outbreak at John Pritchard School, which was declared last month, has now ended, the province announced on Tuesday.

    The school is now at the yellow or caution level on the pandemic response system.

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    Coronavirus cases spike again in Manitoba on Tuesday – CTV News Winnipeg

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    WINNIPEG —
    Cases of COVID-19 have once again spiked in Manitoba, as provincial health officials announced 110 new cases on Tuesday.

    These new cases bring the total number of COVID-19 cases in Manitoba since March to 3,491, which includes one case removed from the total due to duplication.

    The cases announced on Tuesday include:

    • two cases in the Interlake–Eastern health region;
    • 11 cases in the Northern health region;
    • two cases in the Prairie Mountain Health region;
    • seven cases in the Southern Health–Santé Sud health region; and
    • 88 cases in the Winnipeg health region.

    The province said there are currently 32 people in hospital, including six people in intensive care. The number of deaths related to COVID-19 remains at 42.

    The five-day test positivity rate in Manitoba crept back up slightly to 4.3 per cent as of Tuesday.

    The province said there are 1,746 active cases in the province, along with 1,703 recoveries – however, Dr. Brent Roussin, the chief provincial public health officer, has said these numbers may not be accurate due to a back log in reporting.

    The Winnipeg region continues to have the highest number of COVID-19 cases in Manitoba, with 2,113 total cases since March.

    The Winnipeg Metropolitan Region is now under the orange or restricted level on the province’s pandemic response system, which includes increased restrictions.

    This comes as Canada’s second wave of the COVID-19 pandemic pushed the country’s total case count past the 200,000 mark on Monday.

    READ MORE: COVID-19 cases in Canada surpass 200,000

    The majority of Canada’s cases are in Ontario and Quebec, though cases have been rising across the country.

    APPOINTMENT-BASED TESTING NOW AVAILABLE IN MANITOBA

    The province had 2,149 COVID tests completed on Monday, bringing the total number of lab tests done since February to 228,713.

    The province has also announced the introduction of appointment-based testing is launching in Manitoba on Tuesday.

    The province said people are now able to make an appointment to book a COVID-19 test by calling 1-855-268-4318 or by going to the government’s website.

    For now, the province said appointments will only be available at three sites, including 604 St. Mary’s Rd., 2735 Pembina Hwy., and 1181 Portage Ave.

    The rest of the testing sites in the province are still working on a first-come, first-serve basis.

    -with files from CTV’s Devon McKendrick and The Canadian Press’ Paola Loriggio

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    More Manitoba healthcare workers test positive for COVID-19: provincial data – CTV News Winnipeg

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    WINNIPEG —
    The number of healthcare workers in Manitoba who have tested positive for COVID-19 continues to grow, according to the latest surveillance data released by the Manitoba government.

    In its weekly report released Monday, the province said 16 more healthcare workers were diagnosed with COVID-19 during the week of Oct. 4-10, bringing the total to 129 since the pandemic began in March.

    Of the healthcare workers who contracted COVID-19, 39 worked as healthcare aides, while 32 worked as nurses, and 12 worked as social or support workers.

    Of the 116 cases of COVID-19 among healthcare workers, the province said 95 have recovered as of Oct. 10. The surveillance report said 62.3 per cent of the cases were from close contact with a known COVID-19 case, with 28.7 per cent of cases coming from an unknown source. The remaining nine per cent of cases come from travel.

    CASE DATA IN MANITOBA

    During the week of Oct. 4-10, Manitoba reported a total of 502 COVID-19 cases, with 75 per cent of the new cases reported in Winnipeg. In the remaining health regions, 12 per cent of the cases were in the Interlake-Eastern region, eight per cent were in Southern Health, three per cent in the Prairie Mountain Health Region, and one per cent in the Northern Health Region.

    During the week, Manitoba performed an average of 2,419 tests per day, and the test positivity rate was 3.4 per cent, up from 2.3 per cent the week before.

    Of the cases this week where information on the infection’s source was available, 53.7 per cent were from close contact to known cases, 20.4 per cent are still pending results, and 17.2 per cent of cases were from an unknown source. The remaining percentage (8.7) was from travel.

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