11:53:30 EDT Fri 18 Oct 2019
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Bank of Nova Scotia
Symbol C : BNS
Shares Issued 1,224,496,870
Close 2019-02-22 C$ 75.38
Recent Sedar Documents

Globe says BMO, others leading Lightspeed POS IPO

2019-02-25 09:08 ET - In the News

See In the News (C-BMO) Bank of Montreal

The Globe and Mail reports in its Monday edition that a successful initial public offering by Lightspeed POS could deliver a nine-figure gain for the Caisse de depot et placement du Quebec, its largest shareholder. The Globe's Sean Silcoff writes that documents filed as part of Lightspeed's IPO process Friday revealed the Quebec investment giant holds 29.49 million shares in the 14-year-old firm, which provides cloud-based software for retailers and restaurants to digitally manage point-of-sale and back-office functions on a range of computerized devices. Lightspeed hopes to price the offering at between $13 and $15 a share and raise $200-million. That means the Caisse's interest -- which comes with a board seat -- would be worth $413-million if the underwriters can secure a mid-range $14 share price. That would be 80 per cent more than the approximately $230-million the Caisse paid for its interest in Lightspeed in two transactions in 2015 and in 2017. Underwriters Bank of Montreal, National Bank of Canada and JP Morgan Securities are leading the Lightspeed offering. On Friday, the group added Canadian Imperial Bank of Commerce, Toronto-Dominion Bank, Raymond James and Bank of Nova Scotia to the syndicate.

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