Canada NewsWire
TORONTO, Jan. 5, 2021
TORONTO, Jan. 5, 2021 /CNW/ - While the US initial public offering (IPO) and special purpose acquisition corporation (SPAC) market experienced an unprecedent boom in 2020, Canadian IPO market continued to struggle with mixed results.
77 IPOs including capital pool companies (CPCs) and SPACs were completed in 2020 on four Canadian stock exchanges, raising $5.55 billion in aggregate gross proceeds, or excluding CPCs and SPACs, 43 IPOs for $4.85 billion.
The 2020 IPO numbers represent a decrease of 29% in total number of IPOs and an increase of 116% in total amount or, excluding CPC/SPAC IPOs, a decrease of 7% in total IPO number and an increase of 605% in total amount from 2019.
Excluding CPC/SPAC IPOs, CSE continues to lead all Canadian exchanges with 25 IPOs (58%), comparing to 31 IPOs (67%) in 2019.
Mining issuers led all sectors with 23 IPOs for $324 million, accounting for 53% and 7% of the total number of Non-CPC/SPAC IPOs and total amount respectively.
4 Private Equity (PE) and 2 Venture Capital (VC) backed IPOs dominated the total amount, raising $3,395 million and $144 million respectively, or $3,539 million in aggregate, representing 64% of total IPO amount or 73% of total Non-CPC/SPAC IPO amount.
2020 IPO Breakdown by Exchanges (Non-CPC/SPAC)
2020 Canadian IPOs League Table – Top 8 Law Firms (by # IPOs only)
All IPO Ranking (#, $total IPO value)
Non-CPC/SPAC IPO Ranking (#, $total IPO value)
2020 Canadian IPOs League Table – Top 13 Underwriters (by # IPOs Only)
All IPO Ranking (#, $total IPO value)
Non-CPC/SPAC IPO Ranking (#, $total IPO value)
2020 Top Five Canadian IPOs (Canadian and foreign exchanges)
Three of top five Canadian IPOs were done on the NASDAQ Exchange. The Top Five are backed either by private equity or venture capital firms.
Issuer | Backed | Close Date | $ Raised (Mil) | Exchange(s) | Valuation* ($Mil) |
GFL Environmental Inc. | PE | 2020-03-05 | $1,425 (US) | TSX/NYSE: GFL | $6,416 (US) |
Nuvei Corporation | PE | 2020-09-22 | $805 (US) | TSX: NVEI | $3,390 (US) |
AbCellera Biologics Inc. | VC | 2020-12-15 | $555 (US) | NASDAQ: ABCL | $5,384 (US) |
Repare Therapeutics Inc. | VC | 2020-06-23 | $253 (US) | NASDAD: RPTX | $700 (US) |
Fusion Pharmaceuticals Inc. | VC | 2020-06-30 | $213 (US) | NASDAQ: FUSN | $708 (US) |
Report Summary
2020 Canadian IPO Report Summary can be downloaded from financings.ca https://www.financings.ca/reports/
About CPE Analytics
CPE Analytics, through financings.ca, is Canada's all public and private financing data provider. We offer comprehensive data coverage and analysis on private capital and public financings, IPOs, M&As and VC/PE fundraising. More information: https://cpeanalytics.ca
CPE Analytics is a division of CPE Media Inc., Canada's all financing news and data provider.
SOURCE CPE Media Inc.
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