Dialogue Health makes TSX debut with IPO pricing shares at $12 each
Posted March 30, 2021 9:56 am.
Last Updated March 30, 2021 10:08 am.
MONTREAL — Dialogue Health Technologies Inc. shares surged on their initial public offering on the Toronto Stock Exchange Tuesday.
The Montreal-based telemedicine company priced 8.34 million shares in its IPO at $12 each to generate aggregate gross proceeds of about $100 million, but its stock jumped by 20 per cent to reach $14.50 shortly after trading began.
Dialogue’s prospectus says the offering could see shareholders Sun Life Assurance Company of Canada, White Star Capital’s Fund VI and HV Holtzbrinck Ventures Fund VI SCS own about 14, 13 and 10 per cent of the company’s stock, respectively.
Under the offering, Dialogue’s underwriters also have a right to buy more than 1.25 million or $15-million worth of stock from investors.
Dialogue’s offering is being led by National Bank Financial Inc., RBC Capital Markets, Scotiabank and TD Securities Inc. and includes CIBC World Markets Inc., Desjardins Securities Inc., Canaccord Genuity Corp., iA Private Wealth Inc., INFOR Financial Inc. and Laurentian Bank Securities Inc.
Dialogue was founded in 2016 by Cherif Habib, Alexis Smirnov and Anna Chif as a way to remotely connect health professionals with Canadians seeking medical advice.
This report by The Canadian Press was first published March 30, 2021.
Companies in this story: (TSX:CARE)
The Canadian Press
