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