Canadian Sushi Maker Bento Is Said to Scrap Plans for IPO
- Company was seeking to raise C$80 million in share sale
- Bento dropped plans for a dual-class share structure
A dish of traditional Edomae sushi sits on display at the Global Sushi Challenge competition 2015 in Tokyo, Japan, on Sept. 2, 2015.
Photographer: Yuriko Nakao/BloombergThis article is for subscribers only.
Canadian sushi company Bento Inc. scrapped plans for an initial public offering after failing to attract enough interest from institutional investors, according to people familiar with the matter.
The Markham, Ontario-based company was aiming to raise about C$80 million ($62 million) selling shares at C$10 each, after lowering the price from a range of C$12 to C$14, according to the people, who asked not to be identified because the matter is private.