Shares of U.K.-based Metatek hovered slightly below their opening price of $5 per share in their trading debut Thursday, after pricing below expectations on Wednesday night. The firm makes technology that can survey underground areas for critical mineral deposits, and is the first major tech IPO on the TSX since November 2021. (The Logic)

Talking point: The TSX saw a rush of initial public offerings in 2021, but tech IPO activity has slowed significantly since then. When Metatek first announced plans to go public on March 2, it aimed to raise between $42.5 million and $50 million. So far, it has raised about $40 million, of which $5 million will go to selling shareholders and underwriting, though it could rake in another $6 million if demand proves strong and the company sells extra shares. It’s nonetheless a payday for its biggest shareholder, Calgary-based Pillar Four Capital Partners. Metatek, which posted a 97 per cent year-over-year revenue jump in 2025, is hoping to capitalize on a push in the mining industry to use historical data to find new mineral deposits.