Canada IPO market trades commodities for tech as valuations climb

By John Tilak TORONTO (Reuters) - Technology companies look set to supplant energy and mining firms as the driver of Canadian initial public offerings this year as global optimism about tech startups boosts valuations and spurs early investors to cash out. The anticipated surge in capital-raising by tech companies would provide a much-needed boost to the commodity-heavy Canadian equity market, which has been hit hard by plunging oil and metal prices. Soaring venture-capital investment and healthy technology spending are seen as fueling the revival of Canadian tech IPOs. "In the next 12 to 24 months, you’re going to finally see the most significant volume of Canadian tech IPOs you’ve seen in the past decade, if not ever," said John Ruffolo, chief executive of OMERS Ventures, one of Canada’s top venture capital players.



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