The Toronto-based digital-media company, in which Toronto Star parent Torstar owns a 56 per cent stake, said it will price shares at between $19 and $23 each. It expects to trade on the Toronto Stock Exchange under the symbol FORA. (The Logic)
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The Toronto-based digital-media company, in which Toronto Star parent Torstar owns a 56 per cent stake, said it will price shares at between $19 and $23 each. It expects to trade on the Toronto Stock Exchange under the symbol FORA. (The Logic)
Talking point: Torstar acquired the majority stake in July 2015, calling it “an important step forward in the transformation of Torstar, positioning the company for future growth.” NordStar Capital, which bought Torstar for $60 million in August 2020, now stands to make a big profit off the investment. It’s the latest in a string of Canadian tech IPOs, following offerings this month from Q4 and Softchoice. While most have been successful, Saskatoon-based Vendasta shelved its IPO bid after some tech companies got a lukewarm response from the markets, opting to raise $119.5 million in private capital, instead.
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