Monday, March 30th18.1°C
25757
24574

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

25538


Recent Trending




Today's Market
S&P TSX14908.39+95.97
S&P CDNX680.33-1.10
DJIA17976.31+263.65
Nasdaq4947.44+56.22
S&P 5002086.24+25.22
CDN Dollar0.7887+0.0001
Gold1184.70-0.10
Oil48.62-0.06
Lumber279.70+0.40
Natural Gas2.62-0.05

 
Okanagan Companies
Pacific Safety0.115-0.010
Knighthawk0.010.00
QHR Technologies Inc1.50+0.00
Cantex0.03-0.01
Anavex Life Sciences0.215-0.004
Metalex Ventures0.04-0.01
Russel Metals24.40-0.10
Copper Mountain Mining1.18+0.05
Colorado Resources0.12-0.01
ReliaBrand Inc0.006-0.001
Sunrise Resources Ltd0.045+0.000
Mission Ready Services0.235-0.020
Decisive Dividend Corporation1.80+0.02

 





FEATURED Property
22406512025 Stirling Place Kelowna
$474,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Down payment

If you have less than 20% down payment, mortgage insurance is required through Canada Mortgage & Housing (CMHC), Genworth or Canada Guaranty. Homeowners no longer need the minimum 5% down payment ...


CRA Notice of Assessment

Many Canadians rush to file their taxes on time each year and don’t think about it until the next year. One of the most overlooked notices received from the CRA annually is the annual Notice of ...


Medical confidential?

If ICBC asks your doctor for your information you may wonder: Can ICBC ask my doctor for my medical information? Can ICBC request a medical report from my doctor without my consent? What is ICBC entit...

_





25482


Member of BC Press Council


25579