This is the first time RBC has played a role in a Shopify financing since playing a bit role in the company's May, 2015, initial public offering and its subsequent share offering in August, 2016. Shopify, which trades on the Toronto and New York stock exchanges, typically uses Wall Street banks for the vast majority of its financing needs, sometimes bringing in Canadian underwriters as bit players in underwriting syndicates. Of its seven previous share offerings dating to its IPO, Canadian-based underwriters have earned less than 10 per cent of the US$86.9-million in combined underwriting commissions and discounts.