Lightspeed shares surge higher on first day of trading on the TSX

Lightspeed shares surge higher on first day of trading on the TSX
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TORONTO — Shares of Lightspeed POS Inc. surged higher on their first day of trading on the Toronto Stock Exchange.

The Montreal-based payment software company’s shares rose as high as $20.22 in early trading, before trading for $19.68 at midday.

Lightspeed’s initial public offering, which was priced at $16 per share, was expected to raise $240 million, making it one of the top 10 technology IPOs in Canada, the exchange said in a release.

The final price of the offering was higher than the initial range of $13 to $15 per share that was expected.

Founded in 2005, Lightspeed is payment technology company for small and medium-sized retailers and restaurants.

The company has grown to more than 700 employees located in eight offices around the world.

Companies in this story: (TSX:LPSD)

The Canadian Press

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