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Briefing

B.C. furniture e-commerce company explores IPO

Cymax Group may hold an initial public offering as early as next spring, as the online marketplace, where vendors sell furniture and home decor, expects its revenue to more than double this year. (The Globe and Mail)

Briefing

B.C. furniture e-commerce company explores IPO

By Aleksandra Sagan
Oct 5, 2020
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Cymax Group may hold an initial public offering as early as next spring, as the online marketplace, where vendors sell furniture and home decor, expects its revenue to more than double this year. (The Globe and Mail)

Talking point: “Going public is one of those things we’re looking at,” said Cymax director Andrew Lugsdin, but “nothing is locked in stone,” and the decision depends on things like consumer confidence after the U.S. election in November. The company has met with investment bankers. An IPO would make it one of several Canadian tech firms considering going public: among others, Vancouver-based BroadbandTV; Kelowna, B.C.-based Pivotree, which filed a preliminary prospectus in late September; and Toronto-based Ecobee, potentially through a SPAC. Other Canadian tech firms have had success with their recent offerings. Montreal-based Nuvei raised US$700 million in September for the largest dollar amount raised by a tech company in TSX history.

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