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Kinaxis is a “software as a service” cloud computing play.
Kinaxis is a “software as a service” cloud computing play.
(pressureUA/Getty Images/iStockphoto)

Cloud computing firm seeks to raise as much as $124-million in IPO

Kinaxis Inc. is forging ahead with its initial public offering, looking to raise as much as $124-million in its first stock sale to the public even amid a cooler environment for technology stocks.

Kinaxis is seeking to sell about 7.7 million shares at $14 to $16, a person familiar with the sale said, citing marketing documents. That pricing values the company at about $290-million, making it a significantly sized entrant on the Toronto Stock Exchange's tech roster.