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Israel’s incubator Trendlines Group gets shunned by Canadians, lists in Singapore

When Trendlines Group couldn't find enough interest to go public in Canada, it listed on the Singapore Stock Exchange instead.

The reaction was straightforward: why not here and why there.

We are talking about the current presentation by Israel-based Trendlines Group to some number of clients from the Horwood Team, which is a part of Richardson GMP.

In 2014 that company C a seed-stage incubator that concentrates on medical and agricultural technology C tried to go public in Canada, but couldn’t find enough curiosity about the deal, that was slated to raise $10-million. Instead it decamped towards the Singapore Stock market where it completed its dpo late last year.

But it did round up some investors in Canada and Trendlines – started by two transplanted Americans, Todd Dollinger and Steve Rhodes – raised about $1.5 million by way of an offering of convertible debentures with clients of the Horwood Team to be the biggest buyers. “I first viewed it as a fantastic and incredibly efficient incubator model. I had been hoping that people would be able to incubate these [companies] in Toronto after which access the follow-on financings and the initial public offerings for the companies as they matured,” said John Horwood.

In Harwood’s view, the ultimate plan ended up being to get Trendlines on the TSX, and “then have another incubator in Toronto.” Instead, Trendlines C that is still small having a portfolio worth around US$90 million C listed in Singapore where it intends to produce a local incubator. (More specifically, Trendlines is listed on Singapore’s Catalist, a “sponsor-supervised listing platform for fast growing local and international companies,” launched in late 2007.)

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