Briefing

Dye & Durham closes up 97 per cent on first day of trading

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The Toronto-based legal technology firm ended the day at $14.80. (The Logic)

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Talking point: Dye & Durham had one of the best first days of a Canadian tech stock in recent years, beating Lightspeed’s 18 per cent jump and Shopify’s debut of about 50 per cent. The share price is a significant increase from the $7.50 a share IPO, which netted Dye & Durham $150 million. About 70 per cent of those shares went to Canadian investors and around 93 per cent went to institutional investors after the company increased its fundraising target by $50 million due to strong demand. There appears to still be strong interest, as the stock attracted 2.6 million trades, making it one of the most active on the TSX.