Haivision, Abaxx highlight new tech listings on TSX, NEO Exchange
Two Canadian-headquartered tech companies, Haivision Systems and Abaxx Technologies, have begun trading on the TSX and NEO Exchange.
Common shares of Haivision (TSX: HAI) began trading on the TSX on December 16, while Abaxx (NEO: ABXX) began trading on December 18.
Founded in 2004, Montreal-based Haivision develops video streaming solutions for the public and private sector. In July, it acquired Teltoo, a video software startup based in Spain. Haivision has headquarters in Montreal and Chicago, as well as regional offices located throughout the Americas, Europe, and Asia. The company has approximately 200 employees.
Haivision provides video solutions that help stream broadcast-quality, low-latency video. The company works with government, enterprise, and broadcast customers, including Allstate Insurance, BP, the United States Department of Homeland Security, and the National Football League (NFL). Haivision also developed Secure Reliable Transport (SRT), an open-source video transport protocol and technology stack that is aimed to optimize video streaming performance across unpredictable networks.
Haivision had listed its IPO of five million common shares at a price of $6 per share (CAD), for total gross proceeds of $30 million.
“Mission-critical real-time IP video is transforming the way organizations operate and promotes better informed decision making. Haivision is at the heart of the accelerated adoption of IP video across all industries,” said Mirko Wicha, president and CEO of Haivision. “Listing on the TSX heralds in the next phase of our evolution, will continue to drive our innovation in live IP video and cloud networking and will accelerate our growth.”
Founded in 2017, Toronto-based Abaxx develops software tools that enable commodity traders and finance professionals to communicate, manage risk, and transact. Abaxx is also the majority shareholder of Abaxx Singapore, a commodity futures exchange seeking final regulatory approvals with the Monetary Authority of Singapore.
Abaxx successfully completed a reverse takeover with New Millennium Iron Corp. on December 14, and had 63,558,062 shares outstanding when it started trading on the NEO Exchange. The NEO Exchange was founded in 2015 and claims to be the third most active marketplace in Canada, representing close to 13 percent of all volume traded in Canadian-listed securities and home to almost 100 unique public listings.
“Abaxx was founded with a vision of how global markets and the internet economy will fundamentally transform over the next decade,” said Josh Crumb, Abaxx founder and CEO. “We quickly learned that many people share our thesis around the socio-economic transition taking place, and we fundamentally believe that more stringent trust and transparency, more efficient market-based solutions, and trustworthy-computing software systems will enable global markets to organize and transact, resulting in the best emergent outcomes for society.”
Image source Haivision via Facebook.