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Toronto Stock Exchange (TSX) announced today that Lightspeed POS Inc. (Lightspeed), a Montréal-based point of sale software firm, will begin trading this morning under the symbol TSX:LSPD.
To celebrate the listing, Dax Dasilva, Founder and CEO of Lightspeed, will join Loui Anastasopoulos, President, Capital Formation, TMX Group to open trading today at 9:30 a.m. ET. Lightspeed's initial public offering (IPO) is expected to raise $240 million ranking this as one of the top 10 technology IPOs on TSX.
"Congratulations to the Lightspeed team, including its employees and investors. We are very proud to welcome a leading-edge technology company and homegrown Canadian innovation story to our market," said Mr. Anastasopoulos. "The Lightspeed IPO is indicative of the positive paradigm shift underway in our marketplace, as technology and innovation companies are increasingly turning to the TSX and TSXV capital formation ecosystem to access the capital they need to fund the next stage of their growth. TMX is committed to enabling the long-term success of the visionary companies and entrepreneurs around the world."
Founded in 2005, Lightspeed is an easy-to-use, omni-channel commerce-enabling platform for SMB retailers and restaurants, and is used by businesses in over 100 countries.
"Lightspeed's listing on the TSX ushers in a new era for the company and the customers that we serve," said Mr. Dasilva. "When I started Lightspeed 14 years ago, I envisioned a software company that provides tools for entrepreneurs to seamlessly manage their business. Over the years, our team has grown to more than 700 employees located in eight offices around the world. Together, we embody our mission of bringing cities and communities to life by powering SMBs. Through our suite of innovative cloud tools, our growing global customer base continues to benefit from unprecedented efficiencies to help them achieve their greatest potential."
2018 was a record year for the innovation sector on TSX and TSXV with 59 new companies listed. As at January 31, 2019, there were 440 technology and innovation companies listed on both Exchanges with a combined market capitalization of almost $240 billion.
