VANCOUVER/TORONTO, May 21 (Reuters) – The successful initial
public offering of Shopify could prompt
Hootsuite, another promising Canadian tech startup, to tap
public markets sooner rather than later, its chief executive
said on Thursday.
And a raft of other promising technology compatriots could
quickly join them, executives and backers say, in a revival of
public capital-raising that would boost a commodity-heavy equity
market pummeled by plunging oil and metal prices.
VANCOUVER, May 21 (Reuters) – Hootsuite, a provider of
software to manage social media on a global scale and one of
Canada’s most valuable tech startups, hinted on Thursday it may
move up its timeline on a initial public offering in light of
the success of fellow Canadian startup Shopify.
Canadian e-commerce software maker Shopify Inc’s
shares rose as much as 69 percent in their U.S. debut on
Thursday, valuing the company at about $2.14
FRANKFURT/TORONTO (Reuters) – Bombardier Inc (BBDb.TO: Quote, Profile, Research, Stock Buzz) is aiming to sell a 20- to 30-percent stake in its rail unit via an initial public offering in Frankfurt as early as October, said three sources familiar with the matter on Friday.
The planes and trains maker unveiled broad plans to list a minority stake in Bombardier Transportation (BT) a day earlier but gave few details.
TORONTO, May 6 (Reuters) – Brookfield Asset Management Inc
, one of Canada’s top investment management firms, is
actively scouting for oil assets in the oil-rich Western
Canadian province of Alberta, said Chief Executive Bruce Flatt
“Our main investment objective is to put money where money
is scarce,” Flatt told media on the sidelines of Brookfield’s
annual shareholder meeting in Toronto. “And oil and gas, and
especially oil in Alberta, is a sector that is under more stress
than it has been in a long time.”
TORONTO, May 5 (Reuters) – Kinross Gold is scouting
for acquisition opportunities but vows it will be disciplined
and only strike a deal if it offers value to shareholders, the
Canadian gold miner’s chief executive said on Tuesday.
“On the external front, we are looking like everyone else
is,” Paul Rollinson said in an interview. “But at the end of the
day we will be disciplined.”
TORONTO, May 4 (Reuters) – TMX Group, owner of
Canada’s major stock exchanges, said on Monday it will gradually
reduce its rebate and fee structure to address concerns about
its incentives model and to tackle competitive threats.
Critics say the widely used fee and rebate system, called
the “maker-taker” model, distorts stock-order routing practices
as brokers may be enticed to send orders to markets where they
get the best incentives, instead of acting in their clients’
TORONTO, May 1 (Reuters) – Barrick Gold Corp on
Friday named Catherine Raw, a BlackRock executive and co-manager
of one of its flagship mining funds, as head of business
BlackRock, one of the world’s largest asset
managers, announced in March that Raw was leaving to take a
corporate position in the mining sector. She had headed the
firm’s mining fund with BlackRock veteran Evy Hambro since 2011.
TORONTO, April 30 (Reuters) – GMP Capital reported
a net loss on Thursday, as a slump in commodity prices damped
issuance and deal activity among small- and mid-tier companies
that account for a large portion of the independent brokerage
firm’s client base.
The results underscore the challenge that many small and
mid-market firms face in Canada, as weak commodity prices and
higher costs amid increased regulatory scrutiny weigh on
TORONTO (Reuters) – The uproar around yogawear retailer Lululemon Athletica two years ago was about a little too much transparency. Now some shareholders are complaining about a lack of it.
Lululemon shares tumbled and executives departed following a high-profile 2013 recall of its signature yoga pants that were deemed too see-through. Its founder Chip Wilson later clashed with the board over how things were being run.
TORONTO, April 28 (Reuters) – Barrick Gold Corp
Chairman John Thornton promised to fix the
miner’s executive compensation plan, especially his own package,
on Tuesday after shareholders voted overwhelmingly to reject it,
the second such rejection in three years.
Although the final tally of the nonbinding say-on-pay vote
was not in, Thornton said early returns indicated that about 75
percent of shareholders who voted rejected the plan.