Shred-it Targets $465 Million in Largest Canadian IPO of Year

Shred-it International Inc., the provider of information-destruction services, seeks to raise about C$600 million ($465 million) in an initial public offering that would be Canada’s largest this year.

The company plans to sell shares for C$20 to C$23 each and list on the Toronto Stock Exchange, Oakville, Ontario-based Shred-it said in a July 13 filing with regulators. Shred-it offers services to about 400,000 customers in 18 countries and has a fleet of about 2,400 trucks, according to the filing.

Toronto-Dominion Bank, Bank of Montreal, Canadian Imperial Bank of Commerce and Bank of Nova Scotia are leading the sale.

Canada’s largest IPO this year was the C$300 million sale of Sleep Country Canada Holdings Inc., which may climb to C$345 million if banks arranging the deal take an option for additional shares, according to data compiled by Bloomberg.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE