TORONTO (Reuters) – Canadian payments software startup Payfirma has raised C$13 million ($10.42 million) in its first institutional funding round and is considering an initial public offering in 2016, its chief executive officer said on Wednesday.
CEO Michael Gokturk said in an interview the company is considering an IPO as early as 2016, and could list in Toronto and New York. The executive had previously co-founded payments company Versapay Corp (VPY.V: Quote, Profile, Research, Stock Buzz) and taken it public.
TORONTO, May 27 (Reuters) – Canadian lenders Bank of
Montreal and National Bank of Canada reported
higher-than-expected quarterly profits and raised their
dividends following growth in their wealth management and
personal and commercial banking units.
The results on Wednesday came amid concerns that a slowdown
in oil prices and sluggishness in the Canadian economy might
hurt banks. With growth in the domestic business harder to come
by, some have been expanding their wealth management businesses
and looking for U.S. acquisitions.
TORONTO (Reuters) – Canadian e-commerce start-up Shoes.com Technologies plans to go public this fall following a private funding round that tapped high-net-worth individuals and private institutional capital, Chairman Roger Hardy said on Monday.
The company raised C$45 million ($36.55 million) earlier this month, valuing it at C$320 million. The offering was oversubscribed by two to three times, Hardy said, adding that it was the largest unbrokered private placement for a Canadian e-commerce company.
TORONTO (Reuters) – The Canada Pension Plan Investment Board (CPPIB), one of the world’s biggest dealmakers, is looking at deals in the energy sector as a selloff in the price of oil makes valuations more appealing, its top executive said on Thursday.
The fund, which delivered gross investment returns of 18.7 percent for its fiscal 2015, is evaluating a number of opportunities in Western Canada, Chief Executive Officer Mark Wiseman said in an interview.
TORONTO, May 19 (Reuters) – Commercial borrowing by small
and medium-sized businesses in Canada rose slightly in the first
quarter as modest growth in the agriculture and construction
industries helped offset weakness in the energy sector, data
from PayNet showed on Tuesday.
PayNet, which tracks commercial financing for millions of
small and medium-sized businesses in North America, said its
Canadian Business Lending Index rose to 206 in the first quarter
from 204 in the fourth quarter.
TORONTO/CALGARY, May 15 (Reuters) – Imperial Oil,
Canada’s No. 2 integrated oil producer and refiner, is moving
forward on plans to sell some 500 of its remaining company-owned
Esso retail sites and has begun to accept proposals from
interested bidders, according to four sources familiar with the
In January Imperial, majority-owned by Exxon Mobil,
said it was evaluating selling its remaining company-owned Esso
stations in Canada. [IDn:nL1N0V733J]
TORONTO, May 8 (Reuters) – Canada’s main stock index
advanced on Friday as upbeat economic data reflected strength in
the U.S. labor market and shares of energy producers climbed
with the price of U.S. crude oil.
In the United States, all three main stock indexes, the Dow
Jones industrial average, the S&P 500 and the
Nasdaq Composite, were up over 1 percent.
TORONTO, May 7 (Reuters) – Canada’s BitGold, a startup that
runs an online payments and savings platform based on the
precious metal, plans to go public in Toronto next week and will
seek a listing in Asia in six to 12 months, the company’s chief
“We felt there was this compelling opportunity to build a
financial service that had virtually no counterparty risk
because it only held gold,” Chief Executive Roy Sebag said in an
interview on Wednesday.
TORONTO, May 7 (Reuters) – Manulife Financial Corp
reported a lower first-quarter profit on Thursday due to the
impact of its energy holdings on its investment business, but
the insurer raised its quarterly dividend.
The Toronto-based company, which has major operations in
Canada, the United States and Asia, also recorded a rise in
assets under management to C$821 billion ($680 billion).
TORONTO, May 6 (Reuters) – Canada’s main stock index dropped
about 1 percent on Wednesday, hitting a one-month low, as the
victory of the New Democratic Party in oil-rich Alberta’s
provincial election hit energy shares.
The left-wing NDP beat the Progressive Conservatives in a
crushing win that ended the center-right party’s 44-year hold on
power in the western Canadian province.