Trading in newly listed Canaccord Capital Inc. got off to a good start Wednesday, opening at $11.10, up 85¢ from its initial public offering price.

The Vancouver-based investment dealer said Wednesday it has completed its $100-million IPO and that its common shares will now begin trading on the Toronto Stock Exchange.

The company issued 6,829,268 common shares at $10.25 per share for gross proceeds of about $70 million, while a secondary offering of 2,926,830 common shares was sold to certain shareholders of Canaccord, raising about $30 million.

Canaccord’s common shares began trading Wednesday under the symbol CCI. After an initial runup, the shares fell back to $10.85 by mid-morning.

CIBC World Markets Inc. led the underwriting syndicate that also included Canaccord Capital Corporation, BMO Nesbitt Burns Inc., Scotia Capital Inc., RBC Dominion Securities Inc., GMP Securities Ltd., National Bank Financial Inc. and TD Securities Inc.

Canaccord said the underwriters have been granted a 30-day option to purchase up to an additional 1,463,415 common shares at the issue price from certain of the selling shareholders.

The company has said that net proceeds of the offering will be used to expand its private client and capital markets operations, expand its on-line trading capability and its correspondent brokerage services operations, repay subordinated debt of $10 million, as well as for future acquisitions and general working capital.