Jul 4, 2017
Canadian IPO market recovering after poor 2016: PwC report
The Canadian Press
TORONTO -- PwC says the initial public offering market in Canada has bounced back, posting a steady recovery through the first half of the year after a dismal 2016.
The professional services firm issued a report Tuesday saying there were 16 new IPOs on Canadian exchanges in the first six months of this year that raised a total of $2.9 billion.
A $1.7-billion offering by Kinder Morgan Canada Ltd. (KML.TO) on the Toronto Stock Exchange led the second-quarter IPOs this year.
It was the largest IPO in Canada since Hydro One (H.TO) in 2015.
Other offerings this year included Source Energy Services (SHLE.TO), Real Matters Inc. (REAL.TO), Step Energy Services Ltd. (STEP.TO) and MedReleaf Corp. (LEAF.TO).
The data for this year is in contrast to 2016, which the report called the worst year in the nearly 20-year history of its survey of the IPO market, with two IPOs debuting in the first six months of that year on all Canadian exchanges.
