Montreal software firm Lightspeed jumps in its TSX debut GlobeBusiness
Shares of Montreal software firm Lightspeed POS Inc. jumped to $18.56 on their first day of trading on the Toronto Stock Exchange.
The 14-year-old company, which provides retailers and restaurants with cloud-based software to help them manage point-of-sale and back-office functions on a range of digital devices, had priced its shares at $16 a piece on Thursday – above the $13 to $15 range it had previously disclosed. Strong investor demand also prompted the company to boost the deal size from $200-million to $240-million, according to a person familiar with the matter whom The Globe and Mail agreed not to identify because the matter is not public.The Lightspeed IPO comes ahead of a number of high-profile public offerings expected this year from Silicon Valley heavyweights, including Slack Technologies Inc., Lyft Inc., Uber Technologies Inc. and Palantir Technologies Inc.
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