Saturday, November 22nd5.2°C
22246

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 TSX15111.13+35.95
S&P CDNX0.000.00
DJIA17810.0691.06
Nasdaq4712.97+11.102
S&P 5002063.50+10.75
CDN Dollar0.8901-0.0002
Gold1201.50+10.60
Oil76.72+0.87
Lumber331.50+4.50
Natural Gas4.236-0.253

 
Okanagan Companies
Pacific Safety0.155-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.30+0.03
Cantex0.04+0.005
Anavex Life Sciences0.178+0.008
Metalex Ventures0.03+0.005
Russel Metals31.62+0.82
Copper Mountain Mining2.24+0.06
Colorado Resources0.125-0.015
ReliaBrand Inc0.013-0.002
Sunrise Resources Ltd0.050.00
Mission Ready Services0.35+0.015

 
23744


22899

FEATURED Property
211904513409 Parkside Cres
4 bedrooms 3 baths
$930,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...


Retirement: Health Issues

Our health is really our greatest asset and maintaining our health is of tremendous importance. You want to do what you can to ensure that health issues will not jeopardize the enjoyment of your retir...


Be quiet already!

No, you’re not crazy. There really are voices in your head. Voices that keep you from doing what you need to do during your customer care calls. It can be the voice of your teachers, your parent...

_



24158

24158


Member of BC Press Council


22842