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Summary
- Canada recorded a total of 77 initial public offerings (IPO) last year, registering a drop of 29 per cent year-over-year, reports CPE Analytics.
- The total amount raised from the IPOs surged by 116 per cent YoY.
- A recent study showed that the IPO market “struggled with mixed results” in Canada in 2020.
The North American markets saw major listing debuts in 2020, including those of Lightspeed POS (TSX:LSPD) Snowflake Inc (NYSE:SNOW), Airbnb Inc (NASDAQ:ABNB), DoorDash Inc (NASDAQ:DASH) in the US, and Nuvei Corporation (TSX:NVEI) and Dye and Durham (TSX:DND) in Canada.
But while the IPO market boomed south of the border in the United States, a recent study showed that it “struggled with mixed results” in Canada.
©Kalkine Group 2020
Canada recorded a total of 77 initial public offerings (IPO) last year on four different stock exchanges and raised about C$ 5.55 billion in aggregate gross proceeds. These numbers included the listing done via capital pool companies (CPCs) and special purpose acquisition corporations (SPAC).
While total number of IPOs registered a drop of 29 per cent year-over-year, the total amount raised surged by 116 per cent YoY, as per a study by financing data provider CPE Analytics.
If CPCs and SPACs are to be excluded, there were 43 IPOs in the country last year reflecting a decrease of seven per cent YoY. The total gross proceeds of C$ 4.85 billion, without CPCs and SPACs, were up 605 per cent YoY.
Which Canadian Stock Exchanges Saw How Many IPOs In 2020?
- The Canadian Securities Exchange (CSE) led the race with 25 IPOs, up 58 per cent YoY, raising C$ 43 million in proceeds.
- The Toronto Stock Exchange (TSX) saw less than half as many, with 11 IPOs amounting to C$ 4,726 million. Minus CPCs and SPACs, the bourse recorded 10 IPOs and raised C$ 4,460 million.
- TSX’s younger sibling Toronto Stock Venture Exchange (TSXV) welcomed 39 IPOs for a total of C$ 364 million, while the Toronto-based NEO Exchange recorded just two IPOs for C$ 421 million and zero CPCs or SPACs.
Top Canadian IPOs on Home & Foreign Stock Exchanges
- Waste management company GFL Environmental Inc (TSX:GFL), which debuted on the TSX in March 2020, raised a total of US$ 1,425 million in proceeds.
- In September, digital payments platform Nuvei Corporation created much buzz around its TSX IPO, raising US$ 805 million, as per the CPE Analytics research.
- Biotechnology firm AbCellera Biologics Inc (NASDAQ:ABCL) debuted on NASDAQ in December, US$ a total of US$ 555.
