The head of BlackBerry Ltd. says he’s hoping for June timing on the initial public offering the company has planned for its Internet of Things business.
The forthcoming IPO will carve BlackBerry into two business units, dividing its cybersecurity operations from its internet of things offerings.
The Waterloo, Ont.-based technology company has been evaluating a range of strategic alternatives to enhance shareholder value since May.
- ‘Extraordinarily innovative’ oil sector can weather increased carbon price: ATCO CEO
- Trans Mountain and its federal parent see case for Ottawa owning pipeline for good
- Consumer insolvencies highest since 2009 as Canadians struggle with debt
- Calgary-based South Bow says demand strong for oil shipments to U.S. Gulf Coast
The company lost US$42 million in the second quarter of its 2024 fiscal year as revenue from Internet of Things rose four per cent while cybersecurity revenue was down 40 per cent.
Speaking at an investors briefing, John Chen said he was aiming for June because he wants to avoid a summer IPO, when people are on holidays.
He also wants to steer clear of September, which he considers a bad month for the stock market because people are coming back from vacation with a different mindset.
Comments
Want to discuss? Please read our Commenting Policy first.