Deals
GFL Environmental Files for IPO Said to Raise About $1.5 Billion
- Offering would be Canada’s largest since PrairieSky’s 2014 IPO
- Waste-hauling stocks have posted strong multiyear gains
Photographer: PeopleImages/Getty Images
This article is for subscribers only.
GFL Environmental Inc., North America’s fourth-biggest waste hauler, filed for an initial public offering that would be the largest in Canada in about five years.
The sale would aim to raise about $1.5 billion and value the company at about $15 billion, said a person familiar with the matter. Marketing will start in September, and the listing will be on the Toronto Stock Exchange and a yet-to-be-decided U.S. exchange, said the person, who asked not to be identified because the information isn’t public. All proceeds will go to the company’s treasury and be used to fund future growth, the person said.