Newcomers to the Toronto Stock Exchange (TSX) are exiting like bar patrons after last call. Copperleaf’s $1 billion takeover by Swedish firm IFS marks the ninth tech company from 2020-21 to go private. Other notable delisters include Q4 Inc. and Nuvei, with Lightspeed Commerce possibly next.
This trend and the TSX’s 15-month IPO drought suggest a shift. High interest rates and the complexities of public earnings reports make staying private or selling more appealing. “In the past, people would ask ‘Why are you still private,’” said Kim Furlong, CEO of the Canadian Venture Capital and Private Equity Association.
Want to know more? Check out the source code on The Peak.