Technology companies have been overshadowed by the flood of real estate investment trusts going to market in the first quarter. But the United States has seen a surge in tech initial public offerings, and at least one Canadian company looks ready to catch that wave.
Halogen Software Inc. filed for an offering on the Toronto Stock Exchange a few days ago, and is said to be seeking a valuation equal to five times its revenue. If the market is willing to pay it, that would equate to $190-million. While the cloud-based talent management software provider had been on the Street’s radar, it’s a reassuring sign of life in improving markets.