UK geophysical company Metatek has successfully completed an Initial Public Offering on the Toronto Stock Exchange, for total gross proceeds to the business of C$35.0 million.

Milton Keynes-based Metatek is a worldwide leader in data acquisition, processing and interpretation services for air, land and sea geophysical / geological exploration activities.

Using technology such as airborne Full Tensor Gravity Gradiometry (FTG) instruments to create 3D imaging of the sub-surface for natural resource exploration, the company is the world’s only licensed operator of the latest generations of this industry-leading technology.

The flotation is the first tech IPO Canada has seen in five years.