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Save Foods, Inc. has gone public. Here's what we know about the IPO and how to buy Save Foods, Inc. stock in Canada.
CIBC Investor's Edge
National Bank Direct Brokerage
On Friday May 14, 2021, Israeli food safety and quality company, Save Foods, Inc., began publicly trading on the Nasdaq Global Select Market under the ticker symbol "SVFD."
The opening price per share was $11, which was right in between the expected range of $10-$12 per share. With 1,090,909 shares up for grabs, the total amount raised from the IPO was around $12 million.
The lead underwriter of the deal was ThinkEquity (a division of Fordham Financial Management, Inc.). Save Foods, Inc. originally filed a draft registration with the US Securities and Exchange Commission on March 16, 2021. An amended version was filed on April 6, 2021). You can view the amended prospectus here. We'll update this page as more information becomes available.
Note: all dollar amounts on this page are in US dollars unless otherwise stated.
Before you can invest in Save Foods, Inc., you'll need to open a brokerage account.
You won't be able to buy Save Foods, Inc. stocks on a Canadian stock exchange like the TSX. Instead, you need a Canadian broker that provides access to international stock exchanges.
You can access US exchanges like the NYSE and the NASDAQ using Canadian trading platforms like Qtrade, Wealthsimple, Scotia iTRADE and CIBC Investor's Edge.
Interactive Brokers provides access to many stock exchanges outside North America like the Hong Kong Stock Exchange (SEHK), Korea Stock Exchange (KSE), National Stock Exchange of India (NSE), Frankfurt Stock Exchange (FWB) and London Stock Exchange (LSE).
How to buy international stocks in Canada
It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. Looking at the performance of similar companies can help you decide if now is a good time to buy Save Foods, Inc. stock.See how the following stocks are performing, and view details like market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield.
Note: The dollar amounts in the table below are in Canadian dollars.
Canadians who earn dividends from US stock investments must pay the US Internal Revenue Service (IRS) a 15% withholding tax on their earnings. The rate goes down to 10% for bonds and other interest-yielding US investments.
An exception is made for stock investments held in trusts designed to provide retirement income. This includes RRIFs, LIRAs, LIFs, LRIFs and Prescribed RRIFs. RRSPs that hold US stocks, bonds or ETFs are also exempt from US withholding tax. RESPs, TFSAs and RDSPs are not exempt.
Canadian and international investment income must be declared on your Canadian tax return. Unless your US earnings are exempt from withholding tax, this means you'll be taxed by both the IRS and the CRA. The CRA may allow you to claim foreign tax credits for any taxes you've already paid to the IRS.
Speak with a tax professional to find out what rules and exceptions apply in your circumstances.Online stock trading
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