Lightspeed Is Said to Increase IPO Price, Seek C$240 Million

Lightspeed POS Inc. is aiming to price its initial public offering above its previously disclosed range and now seeks to raise C$240 million ($179 million) after strong investor demand, according to people familiar with the matter.

The Montreal-based payments technology company expects to price its shares at C$16 apiece Thursday, said the people, who asked to not be identified because the matter isn’t public. The IPO could now value Lightspeed at about C$1.4 billion, the people said, though it’s unclear how many shares will be outstanding after the offering.

Lightspeed initially said in February that it would seek to raise ...