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Summary
- Debutant stocks of Haivision Systems Inc (TSX:HAI) opened trading on the TSX Wednesday, December 16, at a price of C$ 7.
- The company closed its initial public offering (IPO) earlier on Wednesday, having raised a capital of about C$ 30 million.
- Haivision Systems Inc, which delivers low latency video streaming and encoding services, provides infrastructural solutions to the content streaming market on a global scale.
- Haivision Systems shares closed its debut day trading at a value of C$ 7.77, posting a notable intraday growth of nearly 11 per cent and a trading volume of about 1.38 million.
Haivision Systems Inc (TSX:HAI), a real-time video streaming and networking solutions provider, is one of the newest arrivals on the Toronto Stock Exchange (TSX). Its stocks opened trading on Wednesday, December 16, at a price of C$ 7.
At close, the stocks stood at a value of C$ 7.77, posting a notable intraday growth of nearly 11 per cent and a trading volume of about 1.38 million.
Let’s find a little more about this.
Haivision Systems Inc’s IPO
Haivision Systems Inc closed its initial public offering (IPO) earlier on Wednesday, posting a total of some five million common shares. The shares were priced at C$ 6 apiece for the IPO.
In the preliminary prospectus it filed earlier in November with the Canadian securities regulatory authorities, Haivision Systems Inc said that it is planning an IPO for the gross proceeds of about C$ 45 million. However, at its IPO on Wednesday, the company reportedly raised a capital of about C$ 30 million.
The mission critical video streaming company said that it plans to use the net proceeds generated from the IPO to finance strategic acquisitions and fuel the company’s organic growth strategies and other initiatives.
©Kalkine Group Image
Haivision Systems Inc’ shares have been listed on the TSX under the ticker of ‘HAI’.
Financial services firms Canaccord Genuity Corp (TSX:CF) and Desjardins Capital Markets worked as the lead underwriters and joint bookrunners for Haivision Systems’ IPO, along with BMO Nesbitt Burns Inc, Beacon Securities Limited and Scotia Capital Inc.
Mirko Wicha, the president and chief executive officer of Haivision Systems Inc, described the company’s listing on the TSX as the “next phase of its evolution”.
A Little Background For Haivision Systems Inc
Haivision Systems Inc, which delivers low latency video streaming and encoding services, provides infrastructural solutions to the content streaming market on a global scale. The company says that its solutions regarding mission critical applications, broadcast quality, real-time video streaming, etc. have been accessed and used by Fortune 500 companies, different governments, and industries such as those focused in broadcasts, esports, defense, etc.
The company came into being in 2004 and currently has its headquarters in Montreal, Canada, and Chicago, United States. Haivision Systems Inc also has corporate offices, sales base and support centres located across North America, South America, Europe and Asia.
Haivision Systems Inc currently holds a market cap of C$ 200 million, as per the data provided on the TMX Group.
