Friday, May 22nd15.1°C
26402
24949

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

25528


Recent Trending




Today's Market
S&P TSX15180.40-23.21
S&P CDNX701.20+0.69
DJIA18261.41-24.33
Nasdaq5097.48+6.69
S&P 5002129.22-1.60
CDN Dollar0.8146-0.0049
Gold1206.00+1.60
Oil57.45-1.98
Lumber268.50-1.10
Natural Gas2.931-0.018

 
Okanagan Companies
Pacific Safety0.145+0.010
Knighthawk0.010.00
QHR Technologies Inc1.45+0.00
Cantex0.03-0.01
Anavex Life Sciences0.3905+0.0185
Metalex Ventures0.09+0.01
Russel Metals25.87+0.05
Copper Mountain Mining1.39-0.02
Colorado Resources0.10-0.00
ReliaBrand Inc0.0097-0.0003
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.185+0.000
Decisive Dividend Corporation2.20+0.60

 



25185

FEATURED Property
23003431082 Peak Point Drive
4 bedrooms 4 baths
$599,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Do or do not

Photo: Thinkstock.com“The optimist sees the rose and not its thorns; the pessimist stares at the thorns, oblivious of the rose.” - Kahlil Gibran Good planning is all about managing chan...


Penetrate the smokescreen

Photo: ContributedHas this ever happened to you? You’re in the middle of your second or third “good discussion” with a prospect. Everything’s going great. The prospect seems en...


Squaring the circle

Photo: Thinkstock.comI have been reading about market segmentation and choice. Howard Moskowitz’s research into tomato sauce as retold by Malcom Gladwell on the TED talks (http://www.ted.com/tal...

_





25482


Member of BC Press Council


25895