Lightspeed ceo and founder Dax Dasilva pushing the button to open trading, joined by the Lightspeed team.

Montreal-based point-of-sale platform provider Lightspeed’s IPO on Toronto Stock Exchange, or TSX, surged at the opening bell, jumping 15 percent to 18.4 Canadian dollars from the 16 Canadian dollar offering price.

The company’s stock is trading under the ticker LSPD, and the IPO was composed of 15 million subordinate voting shares. As the morning trading session peaked, shares were up more than 20 percent to 19 Canadian dollars.

Lightspeed’s initial public offering is expected to rank as one of the top 10 technology IPOs on the TSX and is expected to close subject to the “satisfaction of customary closing conditions.” Both the initial offering price of 16 Canadian dollars and the trading price this morning exceeds the marketing range of 13 Canadian dollars to 15 Canadian dollars per share.

The shares were also offered into the U.S. to “qualified institutional buyers” under Rule 144A.

Processing $13 billion transactions annually through its customers, Lightspeed’s suite of cloud-based products “provide software that’s designed for the reality of today’s business owner,” which includes POS systems, cloud-based omnichannel solutions and powerful analytics platforms.

On average, Lightspeed customers see their sales lifted 20 percent in their first full year on the platform. Leveraging software, Lightspeed aims to enable success of small and medium-sized businesses.

Lightspeed’s latest announcement to file for IPO follows the momentum of Lightspeed Payments introduced in January, which trailed the launch of Lightspeed Loyalty in the preceding month.

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