RuggedCom IPO a blowout
Congrats to the teams at TD Securities and Genuity Capital Markets. Sounds as though the RuggedCom initial public offering was a tremendous success, with a highly oversubscribed AND broadly based institutional order book. Hitting the target of $40 million, with about 10% going as a secondary offering, demonstrates once again that we are in the best domestic tech IPO market of the century (earlier posts include “The best domestic tech IPO momentum of this century“, May 18-07 and “Tech IPO momentum building“, April 10-07). As with the recent Espial IPO, this deal was another “TSX only” version.
This outing should bode well for Terago, which is currently marketing their IPO. And, assuming that no one was “padding” their Rugged order, the trading debut should be a good one next week.