$10 billion raised in IPOs last year on Canadian exchanges

Nearly 40 mining companies began trading last year on Canadian stock exchanges, with a total of 171 initial public offerings completed in all industries, CPE Analytics reported Wednesday.

Excluding capital pool company (CPCs) and special purpose acquisition corporations (SPACs), businesses raised a total of $9.2 billion through 77 IPOs on Canadian stock exchanges in 2021, said CPE Analytics, a division of CPE Media & Data Company.

Including CPC and SPACs, the grand total raised in Canadian IPOs was $10.2 billion.

Nearly a third (30%) of IPOs on Canadian exchanges were for mining companies.

The S&P/TSX led all exchanges in the number of non-CPC/SPAC IPOs and total amount, listing 35 IPOs worth $8.8 billion. The Canadian Securities Exchange saw 26 IPOs completed last year.

Of the 171 IPOs, seven were done by non-Canadian firms (four American, plus one each for firms based in Britain, Chile and Singapore).

The CPE report also ranked investment dealers by the number IPOs they led or co-led in 2021 on Canadian exchanges. The top three were Canaccord Genuity Corp., Haywood Securities Inc. and RBC Dominion Securities Inc.

About $4.5 billion was raised through private equity-backed IPOs, representing 49% of the total amount raised by all non-CPC/SPAC IPOs on Canadian exchanges.

On the TSX Venture, 103 IPOs raised $300 million while on the NEO Exchange, five IPOs raised $510 million.

Broken down by province, British Columbia led when measured by number of deals, with a total of 90 IPOs. Measured by the amount of money raised, Ontario ranked first with $6.7 billion from 55 IPOs.

As for the investment dealers involved, Scotia Capital Inc., Research Capital Corp. and TD Securities Inc. ranked fourth through sixth, respectively.

Rounding out the seventh through 11th spots were CIBC World Markets Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., PI Financial Corp. and Leede Jones Gable Inc.

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