GFL Environment cancels cross-border IPO: Reuters


Toronto-based GFL Environmental Inc, a waste management company, has canceled its cross-border IPO after investors balked at paying the price range of the shares, reported Reuters. The media outlet noted that investors had pushed GFL to price the shares at $18 per share. As previously reported by PE HUB, GFL has priced its over 87 million shares at a price between US$20 and US$24 per share. GFL planned on trading the stock on the New York Stock Exchange and Toronto Stock Exchange under the ticker symbol “GFL.” GFL is backed by BC Partners and Ontario Teachers’ Pension Plans. Reuters added that CEO Patrick Dovigi said the “company has no immediate timeline on when it will revisit the public markets.”