Miranda Technologies completes IPO

On December 8, 2005, Montreal-based Miranda Technologies Inc., which manufactures and markets high-performance hardware and software for the television broadcast industry, completed a $141 million initial public offering and secondary offering of its common shares, and a listing on the Toronto Stock Exchange. The over-allotment option granted by the selling shareholders to the underwriters was exercised in full on December 14, 2005. Pursuant to the option, the underwriters acquired additional common shares for $15 million. This is Canada's largest technology IPO in five years.

The offering was underwritten by a syndicate of underwriters that was led by Genuity Capital Markets and BMO Nesbitt Burns Inc., and included Desjardins Securities Inc., National Bank Financial Inc. and TD Securities Inc.

Certain selling shareholders, including SGF Tech Inc., Business Development Bank of Canada and Capital régional et coopératif Desjardins, were represented by Gilles Leclerc and Frédéric Boucher of Fasken Martineau.