June 3 (Bloomberg) -- Kinaxis Inc., a provider of software to manage supply-chain operations, aims to raise C$100.6 million ($92.1 million) after lowering the share price of its Canadian initial public offering.
Kinaxis will sell 7.74 million shares for C$13 each, according to revised sale documents dated today. The Ottawa-based company initially planned to sell shares at C$14 to C$16 each, according to a May 14 regulatory filing.
HarbourVest International Private Equity Partners III - Direct Fund LP and TechnoCap I LP, which own 63 percent of Kinaxis, are reducing their investment in Kinaxis through the IPO, according to a May 2 filing.
A telephone message left with Kinaxis Chief Executive Officer Douglas Colbeth wasn’t immediately returned.
Bank of Montreal and Canaccord Genuity Group are leading a group of banks on the sale, and have an option to buy an additional 15 percent of the offering after the sale closes on June 10. Kinaxis will trade on the Toronto Stock Exchange under the symbol KXS, according to sale documents.
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