- The Copperleaf IPO could raise C$ 150 million in gross proceeds and that could value the company at over C$ 1 billion.
- The Copperleaf IPO has sparked the interest of retail investors in Canada as a tech company will make its public debut after a brief gap since July.
- Established in 2000, Copperleaf has remained a privately held company and it was started to act as a consultancy firm to help utility companies make financial decisions.
The Vancouver-based decision analytics firm Copperleaf Technologies Inc. has announced going public and filed documents with regulatory authorities to list its shares in the Canadian equities market.
The public debut will be a litmus test for technology companies as it comes after a summer break that followed a series of initial public offerings on the Toronto Stock Exchange.
In July, Lifespeak was the last Canadian tech company to go public and this will be the first debut of a technology company since then.
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Here's what you must know about the Copperleaf Technologies IPO
According to reports, Copperleaf Technologies will list its shares on the Toronto Stock Exchange, and it is hoping to raise C$ 150 million in gross proceeds and that could value the company at over C$ 1 billion after the public debut.
As the decision analytics firm has already filed the documents with the regulatory authorities, the public debut could happen sooner than expected. Bank of America and BMO Capital Markets will be taking the underwriting responsibility for the initial public offering.
When the IPO happens, retail investors could register with trading platforms that may offer the pre-IPO shares in Canada or get in touch with a stockbroker to buy the stock.
Should you invest in Copperleaf Technologies?
Copperleaf reportedly never lost a customer, and it is engaging with more companies every year. For the period ending June 30, the net revenue from existing customers increased by 25 per cent year-over-year (YoY).
The Vancouver-based company sells optimization software powered by artificial intelligence to large companies. Copperleaf's clients include Enbridge, Duke Energy and B.C. Hydro, and they use the company's optimized software to analyze their capital budgets for multi-year periods and make their plans accordingly.
According to Copperleaf, it manages decisions worth C$ 2.3 trillion and has a presence in 24 countries. If the company extends its offering to new companies in different sectors, then it could clock a revenue exceeding C$ 12 billion.
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Image Description: Copperleaf IPO is trending in Canada as the tech firm is all set to make its public debut.
Established in 2000, Copperleaf has remained a privately held company and it was started to act as a consultancy firm to help utility companies make financial decisions. In the late 2000s, Copperleaf started developing software and later started using the evolving artificial intelligence technologies.
Artificial Intelligence seems to have bright potential as it is being used in almost every sector these days. Companies exploring this technology could grow further and expand their business operations in the future.