London-based WorldRemit was founded in 2010 by Ismael Ahmed, Catherine Wines and Richard Igoe. It provides money transfer services to more than 50 countries.
Finder's top picks on where to buy WorldRemit stock when it goes public
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What we know about the WorldRemit IPO
WorldRemit appointed Spotify chief financial officer Paul Vogel to its board of directors in a move some insiders say suggests the company is moving forward with its long-rumored initial public offering.
Sources close to the deal say WorldRemit could go public in 2021. Goldman Sachs Group and JPMorgan Chase & Co. are reportedly working with the money transfer company on the deal, but neither bank will confirm these rumors.No filing has been made yet, but we will update this story when more information is available.
Note: all dollar amounts on this page are in US dollars unless otherwise stated.
How to buy WorldRemit stock when it starts trading
Once WorldRemit goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.
Compare stock trading platforms.Use our comparison table to help you find a platform that fits your needs.
Open your brokerage account.Complete an application with your details.
Confirm your payment details.Fund your account.
Research the stock.Find the stock by name or ticker symbol and research it before deciding if it's a good investment for you.
Purchase now or later.Buy your desired number of stocks with a market order or use a limit order to delay your purchase until the stock reaches a desired price.
Will I be able to buy WorldRemit stock in Canada?
You won't be able to buy WorldRemit stocks on a Canadian stock exchange like the TSX. Instead, you need a Canadian broker that provides access to international stock exchanges.
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).
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 WorldRemit 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.
Company summary
MoneyGram International, Inc., together with its subsidiaries, provides cross-border peer-to-peer payments and money transfer services in the United States and internationally. It operates through two segments, Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment offers money transfer services and bill payment services through third-party agents, including retail chains, independent retailers, post offices, banks, and other financial institutions; and digital solutions, such as moneygram.com, account deposit, and kiosk-based services, as well as mobile app solutions. The Financial Paper Products segment provides money orders to consumers through its agents and financial institutions under the MoneyGram brand and on a private label or co-branded basis with various agents and financial institutions; and official check outsourcing services for banks and credit unions. MoneyGram International, Inc. was founded in 1940 and is based in Dallas, Texas.
Historical performance
Stock information
Market capitalization: $1074114176
P/E ratio: 32.3235
PEG ratio: 0.98
Dividend yield: 0%
Company summary
The Western Union Company provides money movement and payment services worldwide. The company operates through Consumer Money Transfer and Consumer Services segments. The Consumer Money Transfer segment facilitates money transfers for international cross-border and intra-country transfers, primarily through a network of retail agent locations, as well as through websites and mobile devices. The Consumer Services segments offers bill payment services, which facilitate payments for consumers, businesses, and other organizations, as well as money order services, retail foreign exchange services, prepaid cards, lending partnerships, and digital wallets. The company was founded in 1851 and is headquartered in Denver, Colorado.
Historical performance
Stock information
Market capitalization: $4322660864
P/E ratio: 7.5595
PEG ratio: 3.0836
Dividend yield: 0.074%
Company summary
PayPal Holdings, Inc. operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company was founded in 1998 and is headquartered in San Jose, California.
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Note: The dollar amounts in the table below are in Canadian dollars.
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Tax implications of buying US stocks in Canada
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.
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.
Dawn Daniels is a freelance content strategist and SEO manager and former editor at Finder, specializing in investments and lending. Dawn has edited more than 50 published books, including personal finance titles that have become best sellers on the Amazon Top 100. She holds a BA in English language and literature from Cornell College.
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