Canadian Legal Software Firm Dye & Durham Weighs IPOBy
Company aims to raise about C$100 million in share sale
Offering would be latest in a stream of Canadian IPOs
Legal software and technology company Dye & Durham Corp. is weighing a potential initial public offering later this year, according to people familiar with the matter.
The Toronto-based firm is interviewing banks and hoping to raise about C$100 million ($79 million) in the share sale, said the people, who asked not to be identified because the matter isn’t public. That would give the firm a valuation of as much as C$400 million, the people said. The company may still choose not to pursue an IPO, they said.
Founded in 1874, Dye & Durham makes legal software and technology for use in areas including due diligence, real estate, litigation and process serving, according to its website. The company employs about 200 people in Canada and the U.K.
A representative for Dye & Durham didn’t return phone and email messages seeking comment.
Dye & Durham would be the latest in a string of IPOs this year as the Canadian market recovers from a dismal 2016. There have been 10 Canadian IPOs that have raised C$100 million or more so far this year, the largest being Kinder Morgan Canada Ltd., which raised C$1.75 billion in its initial share sale in May.