Monday, July 6th19.7°C
26926
22952

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




Recent Trending




Today's Market
S&P TSX14616.26-66.13
S&P CDNX665.55-5.03
DJIA17677.67-52.44
Nasdaq4993.43-15.78
S&P 5002070.74-6.04
CDN Dollar0.7920-0.0014
Gold1165.00+2.00
Oil54.84-2.77
Lumber285.70-2.80
Natural Gas2.774-0.048

 
Okanagan Companies
Pacific Safety0.165-0.005
Knighthawk0.010.00
QHR Technologies Inc1.52+0.00
Cantex0.05+0.02
Anavex Life Sciences0.4735+0.0185
Metalex Ventures0.065-0.010
Russel Metals22.57-0.21
Copper Mountain Mining1.14-0.03
Colorado Resources0.075-0.015
ReliaBrand Inc0.008+0.002
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.165+0.005
Decisive Dividend Corporation3.00+0.50

 





FEATURED Property
227573716750 Maki Road
4 bedrooms 4 baths
$3,995,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Increase property value

Photo: Thinkstock.comHere are five of the best renovations you can do to your home to increase property value. These five renovations can sometimes have a return on investment five to six times what t...


Active listening

Has this ever happened to you? You had an initial meeting with a prospect. You asked that prospect what seemed to be all the right questions. You had what felt to you like a good conversation, and bas...


The price of money

Money is not a commodity. By definition, a commodity is a generic product that is bought and sold on price alone. Money, Canadian bills for example, look the same, smell somewhat the same, and are ava...

_








Member of BC Press Council


25143