Skip to main content

Investors stepped up for the second Canadian tech initial public offering in less than a week, a $40-million debut from Ruggedcom, a sign of renewed interest in growth stocks. Woodbridge, Ont.-based Ruggedcom makes communications equipment for harsh environments such as mine sites and drilling rigs. The company began its IPO pitching shares priced in a range between $11 and $13. Strong demand meant the deal was priced late Wednesday at $13. The stock is expected to begin trading on the Toronto Stock Exchange in the next few weeks. TD Securities and Genuity Capital Markets led the financing. This week, Internet software maker Espial Group began trading on the TSX after a $25-million IPO. At least two more tech IPOs worth more than $100-million are expected in the next two months, ending a long dry spell for debuts from the sector.

Report an editorial error

Report a technical issue

Editorial code of conduct

Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 22/04/24 1:48pm EDT.

SymbolName% changeLast
ESP-T
Brompton Energy Split Corp. Class A Shares
+2.77%5.2

Interact with The Globe