Canadian sushi company Bento Inc. scrapped plans for an initial public offering after failing to attract enough interest from institutional investors, according to people familiar with the matter.
The Markham, Ontario-based company was aiming to raise about $80 million selling shares at $10 each, after lowering the price from a range of $12 to $14, according to the people, who asked not to be identified because the matter is private.
Bank of Nova Scotia and Canadian Imperial Bank of Commerce were running the sale.
A representative for Bento declined to comment.
– With assistance from Kristine Owram.