2021 Canadian Exchange IPOs set $10.2B record from 171 IPOs
Sunday, 16 January 2022 12:00.PM
Initial public offerings (IPOs) on the Canadian stock exchanges reached record number of IPOs and amount raised. 171 IPOs completed on the four Canadian Exchanges raising $10.18 billion in 2021, according to Canada's only comprehensive IPO report published by CPE Analytics, a Division of CPE Media & Data Company.
Excluding Capital Pool Company (CPC) and Special Purpose Acquisition Corporation (SPAC), 77 IPOs completed on the Exchanges, raising $9.23 billion.
Dollar figures are in Canadian dollar, unless otherwise noted.
2021 Highlights
- TSX led all Exchanges in number of non-CPC/SPAC IPOs and total amount, with 35 IPOs for $8.80 billion.
- CSE ranked second in number of non-CPC/SPAC IPOs, with 26 IPOs accounting for 34% of all non-CPC/SPAC IPOs.
- 13 Private Equity (PE) backed IPOs raised $4.53 billion representing 44% of total amount raised by all IPOs or 49% of total amount raised by all non-CPC/SPAC IPOs.
- BC led both numbers of all IPOs and non-CPC/SPAC IPOs with 90 and 38 respectively.
- Ontario led the amount raised with $6.69 billion from 55 all IPOs or $6.26 billion from 29 non-CPC/SPAC IPOs.
- 7 non-Canada based IPOs: 4 from US, 1 each from UK, Singapore and Chile.
- Mining led all non-CPC/SPAC IPOs with 30 IPOs, accounting for 39% of 77 non-CPC/SPAC IPOs.
Breakdown by Exchanges (bracket non-CPC/SPAC)
- CSE – 26 IPOs for $182 million (26 IPOs for $182 million)
- TSX – 37 IPOs for $9,190 million (35 IPOs for $8,804 million)
- TSX Venture – 103 IPOs for $300 million (15 IPOs for $239 million)
- NEO – 5 IPOs for $510 million (1 IPO for $5 million)
Canadian companies listed or cross-listed on foreign exchanges
- Gold Royalty Corp. raised US $90 million from NYSE American IPO listing
- TELUS International (Cda) Inc. cross listed on TSX and NYSE
- Ondine Biomedical Inc. listed on LSE AIM through direct-listing and private placement
Top Law Firms by total number of IPOs (10+)
1. Miller Thomson LLP
2. Blake, Cassels & Graydon LLP
3. Stikeman Elliott LLP
4. MLT Aikins LLP
5. Osler, Hoskin & Harcourt LLP
6. McCarthy Tétrault LLP
7. Borden Ladner Gervais LLP
8. Goodmans LLP
9. DS Lawyers LLP (Calgary)
10. DLA Piper (Canada) LLP
11.Cassels Brock & Blackwell LLP
12. Vantage Law Corporation
13.DuMoulin Black LLP
14. Bennett Jones LLP
15. McMillan LLP
16. Minden Gross LLP
Top Investment Dealers by # of Lead/co-Lead IPOs 10+)
1. Canaccord Genuity Corp.
2. Haywood Securities Inc.
3. RBC Dominion Securities Inc.
4. Scotia Capital Inc.
5. Research Capital Corporation
6. TD Securities Inc.
7. CIBC World Markets Inc.
8. BMO Nesbitt Burns Inc.
9. National Bank Financial Inc.
10. PI Financial Corp.
11. Leede Jones Gable Inc.
SOURCE: CPE Media Inc.