When Deloitte released its 2011 Fast 50 List for Canadian technology companies, a ranking of the Canadian tech companies with the highest percentage revenue growth over five years, the collection underscored a sobering fact. With just fourteen of the companies public on the TSX or TSXV, most Canadian techs aren’t looking at the public markets as a viable option for unlocking shareholder value.
NexJ, as we mentioned, is that rarest of things today; a Canadian tech IPO. In May, the Toronto based company closed a $43.65 million IPO by selling 4.85 million shares at $9. The group that underwrote the offering; GMP, Cannacord, Raymond James, RBC, Scotia, TD and NCP Northland Capital Partners, might have had an a shorter due diligence process than normal, as NexJ makes Customer Relationship Management (CRM) solutions for the financial industry. NexJ has nearly tripled its revenue since fiscal 2008; from $7.86 million to $22.53 million in fiscal 2010.
Read the full article here: http://www.cantechletter.com/2011/11/2011-canadas-fastest-growing-tech-stocks/