Israeli fintech company Nayax (TASE: NYAX) has notified the Tel Aviv Stock Exchange that it has filed confidentially with the US Securities and Exchange Commission (SEC) for a Wall Street offering.
Nayax has developed a platform which offers a complete solution for merchants including localized cashless payment acceptance, management suite, and marketing and loyalty suite, enabling them to conduct commerce anywhere, at any time. The company was founded in 2005 by CEO and chairman Yair Nechmad, his brother Amir Nechmad and David Ben Avi.
Nayax held an IPO on the TASE last May, in what was the second largest ever public offering on the Israeli market. The IPO was completed on an international model led by US underwriters Jefferies with foreign investors purchasing shares. Nayax raised NIS 462 million gross for the company and existing shareholders also sold shares for NIS 205 million.
Since the IPO, Nayax's share price has fallen 20%, giving the company a market cap of NIS 2.7 billion ($844 million). In preliminary results, Nayax said that it had fourth quarter revenue of $33.5-34.5 million in the fourth quarter of 2021, compared with $25 million in the corresponding quarter of 2020. 2021 revenue was $119 million, in the middle of its forecasted range, up 51% from 2020.
Published by Globes, Israel business news - en.globes.co.il - on February 6, 2022.
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