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Tech IPO hopes fall as Real Matters pushes back target date Add to ...

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Canada’s dry spell for technology initial public offerings is not likely to end until the new year. The Canadian company touted as the likeliest tech firm to break the sector’s IPO drought – Real Matters Inc. – has now set its sights on an offering in 2017.

The board of the Markham, Ont.-based online mortgage services business recently green-lighted the company to start the process of going public on the Toronto Stock Exchange, sources familiar with the company told The Globe and Mail. Past adviser BMO Capital Markets has been tapped to serve as lead underwriter. BMO is one of the top tech underwriters in Canada; it co-led the 2014 IPO of Ottawa supply chain management software firm Kinaxis Inc. and is advising Vancouver-based marketing software firm Vision Critical, another top candidate to go public in the near- to medium-term. Another past Real Matters adviser, INFOR Financial Inc., is also likely to play a role in the transaction.

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