BC and OTPP-backed GFL Environmental files for cross-border IPO
Toronto-based waste management company GFL Environmental Inc has filed a registration statement with the U.S. Securities and Exchange Commission and a preliminary prospectus with Canadian securities regulators for an initial public offering. The number and price of subordinate voting shares to be sold have not been determined. The Globe and Mail reported GFL is looking to raise about $1.5 billion. Following the IPO, GFL will have two classes of shares: subordinate voting shares and multiple voting shares. The latter will be held by Founder and CEO Patrick Dovigi. Last year, GFL was recapitalized by an investor group led by BC Partners, Ontario Teachers’ Pension Plan and others. The deal valued the business at C$5.1 billion.
22 July 2019•2 mins read
