Kinaxis Inc trimmed the expected offer price of its initial public offering on Tuesday, in a sign that market demand for the Canadian software company’s equity issue may not be as hot as originally expected. The Ottawa-based company, which provides software to help with supply chain operations, now plans to raise C$100.6 million ($92.34 million), it said in a regulatory filing. The offering is being structured as an IPO combined with a secondary offering from Kinaxis’s current investors, private equity firms HarbourVest, based in Boston, and TechnoCap, based in Montreal, the company said in the filing. Kinaxis said it plans to use proceeds from the deal toward debt repayment and for general corporate purposes.
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