June 3, 2014 / 3:38 PM / 4 years ago

Canadian software company Kinaxis cuts expected IPO price

June 3 (Reuters) - Canada-based supply chain software maker Kinaxis Inc said it would now sell its shares at a lower price in its initial public offering than earlier planned.

The company said it would offer the shares at C$13 each, lower than its previous target of C$14-C$16, according to documents filed with regulators. r.reuters.com/fax79v

Kinaxis now expects the IPO to raise C$100.6 million ($92.3 million), down from up to C$123.8 million it estimated earlier.

The company, which develops cloud-based software and offers them to customers on a subscription basis, is expected to list on the Toronto Stock Exchange under the symbol “KXS”.

The Canadian technology industry expects a surge in market debuts over the next two years, with investors betting on companies such as HootSuite, Shopify, and Desire2Learn. ($1 = 1.0895 Canadian Dollars) (Reporting by Anannya Pramanick in Bangalore; Editing by Joyjeet Das)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below