Saturday, July 26th12.5°C
22087
22455

Lumenpulse shares close 15 per cent higher after $100M initial public offering

MONTREAL - Shares in Lumenpulse Inc. (TSX:LMP) climbed about 15 per cent in their first trading following the Montreal lighting company's public debut Tuesday on the Toronto Stock Exchange.

The company, which designs, manufactures and sells LED lighting solutions, set an IPO price of $16 a share. Lumenpulse shares closed up $2.35 at $18.35 after rising as high as $18.90 earlier in the day.

Lumenpulse's public offering included 6.25 million shares, plus up to 937,500 additional shares if the underwriters exercise their over-allotment options in full.

Founded in 2006, the Lumenpulse provides sustainable lighting solutions to commercial, institutional, and urban environments. It employs 225 employees at its headquarters in Montreal and offices in Boston and London, England.

"We appreciate the strong interest from investors in the offering and the confidence our new shareholders have shown in our company," said Francois-Xavier Souvay, company founder and CEO, in a statement.

"Today marks an extremely important step towards our goal of becoming a world leader in high-performance and sustainable specification-grade LED lighting solutions."

Lumenpulse's debut comes in the midst of a quiet period for IPOs on Canada's largest equity market.

Earlier this month, a report by PwC suggested there were no new offerings on the TSX, and only two new issues worth $3.8 million on the TSX Venture Exchange in the first quarter.

This compared with four new issues with a value of $422 million on all Canadian exchanges during the first quarter of 2013.

PwC said it was the lowest quarterly tally for new issues since the first quarter of 2009, when there were $2.5 million in new issues.

The Canadian Press


Read more Business News

21337


Recent Trending




Today's Market
S&P TSX15455.04+60.59
S&P CDNX1017.445.79
DJIA16960.57-123.23
Nasdaq4449.564-22.543
S&P 5001978.34-9.64
CDN Dollar0.9247+0.0002
Gold1294.80+4.2001
Oil104.30-0.29
Lumber326.00+0.20
Natural Gas3.783-0.064

 
Okanagan Companies
Pacific Safety0.185-0.015
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.02
Cantex0.07-0.01
Anavex Life Sciences0.275-0.005
Metalex Ventures0.08+0.01
Russel Metals35.36-0.21
Copper Mountain Mining2.820.00
Colorado Resources0.21+0.005
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.19+0.01

 





FEATURED Property
20237011458 Rose Meadow Drive
3 bedrooms 3 baths
$474,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Take charge of your debt

Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Labour shortage in BC

The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...

_








Member of BC Press Council


22707