Toronto Stock Exchange has welcomed Freshii Inc., a global health-casual restaurant business. It will begin trading under the symbol TSX:FRII.
Freshii founder and CEO Matthew Corrin says, “The IPO is not the finish line for us; it’s just the starting line. We are in the earliest days of what I see possible for the Freshii brand. Over the next few years we are going to double our restaurant count […].”
In 2005, Corrin opened the first Freshii restaurant in Toronto. Since then, hundreds of locations in cities around the world have opened.
Freshii offered 10.9 million Class A subordinate shares at $11.50 per share, raising gross proceeds of $125.4 million.
The stock price surged above $13 earlier in the day and was priced at $12.76 near 3 p.m.
As of December 31, 2016, the TSX and TSX Venture Exchange are home to 127 consumer products and services issuers, with a combined market capitalization of $303 billion.