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The British geophysical company will be the first tech firm to go public on the Toronto Stock Exchange since November 2021. Its shares are expected to debut between $5.75 and $6.25 apiece. (The Globe and Mail)
Talking point: Metatek’s technology lets its users create detailed underground maps by flying over the surface and taking images. Their data can help locate metals and minerals, oil and gas reservoirs and sources of geothermal energy. While the company doesn’t operate in Canada, its largest shareholder is Calgary-based private equity firm PillarFour Capital Partners. Tech companies have eschewed the public markets after a string of Canadian listings in 2020 and 2021 flopped. Many firms from that IPO era have returned to being private. Metateks is one of two tech companies so far set to go public in Canada this year. Quantum computing firm Xanadu plans to list on the TSX and Nasdaq through a merger with a special-purpose acquisition company.
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