Canadian Sushi Maker Bento Is Said to Scrap Plans for IPOBy
Company was seeking to raise C$80 million in share sale
Bento dropped plans for a dual-class share structure
Canadian sushi company Bento Inc. scrapped plans for an initial public offering after failing to attract enough interest from institutional investors, according to people familiar with the matter.
The Markham, Ontario-based company was aiming to raise about C$80 million ($62 million) selling shares at C$10 each, after lowering the price from a range of C$12 to C$14, according to the people, who asked not to be identified because the matter is private.
Bank of Nova Scotia and Canadian Imperial Bank of Commerce were running the sale.
A representative for Bento declined to comment.
— With assistance by Kristine Owram