The Globe and Mail reports in its Thursday edition that Metatek-Group Ltd. priced its initial public offering below the deal's marketing range, and the technology company is also raising less money than originally planned, reflecting soft investor demand for IPOs in Canada. The Globe's Tim Kiladze writes that late Wednesday, Metatek, which is based in Britain and uses a technology called full tensor gravity gradiometry to create detailed underground maps, priced its IPO on the Toronto Stock Exchange at $5 a share, raising $40-million. The company initially set out to raise $50-million and hoped to price the deal between $5.75 and $6.25 a share. The deal follows a Toronto IPO from AGT Food and Ingredients earlier in March that raised $450-million, but that was also priced below its marketing range. AGT's shares are down 18 per cent in their first two weeks of trading. After a flurry of technology deals during the COVID-19 pandemic, Canada has experienced a drought of IPOs for multiple years despite a strong 2025 for the TSX. While Metatek is a British company, its largest shareholder is Calgary-based private equity firm PillarFour Capital Partners Inc., which is selling $5-million worth of its shares in the offering.