GFL Environmental Inc on Monday raised about $1.4 billion in its initial public ...
FILE PHOTO: A truck from Canadian waste management company GFL Environmental Inc, which is planning an IPO, makes its rounds through a neighbourhood in Toronto, Ontario, Canada November 5, 2019. REUTERS/Carlos Osorio
The Canadian waste management company priced its IPO at $19 per share, compared to the target range of $20 to $21 per share, giving it a market value of $6.08 billion. GFL’s founder and chief executive officer, Patrick Dovigi, told Reuters the earlier-than-expected pricing was due to robust demand during book-building and that the company was able to market and price one of the largest IPOs in Canada.
Separately, the company is also selling 14 million tangible equity units for $775 million in proceeds.
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