Third TSX Tech IPO on deck
It’s almost become an onslaught!
If not an onslaught, perhaps the signs of some momentum are there. The oversubscribed institutional book for both ViXS and Halogen Software (HGN:TSX) has given Bay Street come confidence that Canada’s tech investors might be back for good. No sooner had Halogen started trading, word is that a third Tech IPO is on deck; perhaps coming as early as tomorrow.
This one will be bigger, with a targeted $100 million offering. Twice the size of the last two deals. And it’ll be different in another way, too. The company is based in India. Now, before you stop reading, the business is a datacentre, and with the successful takeovers of Q9 and Peer 1, Canadians haven’t got an angle on some exposure to the space. This syndicate will be different from the last two, which means plenty of Institutional Sales desks are getting their first stab at a Tech IPO in some time.
If Canada can be the global centre for Mining and Oil and Gas finance, why not tech, too?
MRM
(disclosure – I own HGN)
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