Montreal-based retail payment technology firm Lightspeed POS Inc. (TSX:LSPD) is planning an initial public offering (IPO) of its voting shares in the United States to help fund its growth strategies.
Shares of Lightspeed POS will trade on the New York Stock Exchange under the ticker symbol "LSPD," the same symbol it uses currently on the Toronto Stock Exchange where it is already trading stock.
A total of 11.65 million shares will be offered through a syndicate of underwriters led by Morgan Stanley, Barclays and BMO Capital Markets, with several banks, including RBC, CIBC, Scotiabank and Toronto-Dominion, acting as co-managers of the IPO.
The shares offered include 10 million from the company and 1.65 million from the Caisse de depot et placement du Quebec, a key shareholder. There's also an over-allotment option for up to nearly 1.75 million shares.
The price and size of the IPO have yet to be determined. However, the company has said it plans to hold its IPO by the end of 2020 or early 2021 depending on market conditions.
