The Vaughan, Ont.-based waste management firm is looking to raise up to US$1.54 billion by selling shares at between US$20 and US$21. The firm is expected to price during the week of March 2. (The Logic)

Talking point: GFL has reduced its share price since November 2019, when it tried to go public by raising up to US$2.1 billion by selling at between US$20 and US$24. However, the price range at which it’s trying to sell is still above the US$18-per-share that the banks running the last share sale were able to get. If this IPO goes ahead, it could be one of Canada’s largest, ahead of Manulife Financial’s US$1.7-billion offering in 2000. When GFL tried to go public last time, investors raised concerns about its debt load. It still has about US$5.8 billion in debt, but is planning on using the money raised this round to offset some of that. GFL’s major investors include the Ontario Teachers’ Pension Plan and BC Partners, both of which recapitalized the firm in 2018 after it scrapped earlier IPO plans.