The Montreal-based ad-exchange tech firm’s CEO said in a statement that the company will wait to resume its offering despite strong institutional-investor interest because of “adverse and challenging current market conditions, especially for technology companies.” (The Logic)
Talking point: Sharethrough filed to go public about a month ago and on Oct. 21 said it expected to raise about $75 million, assuming no overallotment option, with shares priced between $15 and $19. Just before Sharethrough’s filing, Vancouver’s CopperLeaf announced a planned $125-million IPO, and its shares surged in an early October market debut. Since then, investors haven’t been as receptive to Canadian tech firm entrants. Q4, which also paused its IPO plans earlier this year before refiling to go public last month, and D2L both downsized their planned offerings. Meanwhile, E Automotive priced shares at the highest end of its expected range. All three companies’ shares have mostly stayed below their respective offering prices since they started trading. Not all tech firms are deterred by market conditions. Quebec City-based Coveo filed to go public earlier this week.