B.C. furniture e-commerce company Cymax Group Inc. has hired two Bay Street banks to lead its initial public offering as early as next spring, following a string of Canadian digital companies that have done the same in response to strong investor demand for tech stocks during the pandemic.
Burnaby-based Cymax, controlled by billionaire entrepreneur Markus Frind, has engaged Royal Bank of Canada and Toronto-Dominion Bank as lead underwriters, three sources familiar with the situation told The Globe and Mail. The Globe is not identifying the sources as they are not authorized to speak publicly on the matter.
Mr. Frind, who first invested in Cymax five years ago, confirmed in a brief interview that the company has hired two investment banks but declined to confirm their identity. He said the process to go public is progressing but the final decision to proceed has not …