Latest Videos

{{ currentStream.Name }}

Related Video

Continuous Play:
ON OFF

The information you requested is not available at this time, please check back again soon.

More Video

Dec 14, 2020

IPO fever hits Canada with offerings at highest level since 2014

Biotech company AbCellera stock triples in Nasdaq debut

VIDEO SIGN OUT

Security Not Found

The stock symbol {{StockChart.Ric}} does not exist

See Full Stock Page »

Last week’s US$483 million initial public offering from AbCellera Biologics Inc. pushed the total value of Canadian IPOs this year to US$5.72 billion, marking the biggest year for such deals since 2014.

That number represents the value of new shares issued in 88 Canadian-company IPOs that have started trading this year, regardless of whether they’re listed on a domestic exchange. AbCellera, a biotech backed by Peter Thiel that’s involved in a treatment for Covid-19, opted to list on the Nasdaq and not the Toronto Stock Exchange.

This year’s total would rise if some of the 12 IPOs that are currently pending begin to trade -- potentially surpassing the US$5.94 billion raised from IPOs in 2014, the year Canadian energy firm PrairieSky Royalty Ltd. went public.

The AbCellera offering -- which saw the shares nearly triple in their first day of trading last week -- continued a strong year for IPOs in the pharmaceutical industry as the pandemic bolsters interest in companies involved in creating novel therapies.

In addition to Vancouver-based AbCellera, 2020 has also seen initial offerings from cancer-drug developers Repare Therapeutics Inc., based in St. Laurent, Quebec, and Fusion Pharmaceuticals Inc., based in Hamilton, Ontario.

Technology firms have also had a big year, with offerings from Nuvei Corp., an electronic-payment processing company, and a U.S. initial offering from Lightspeed POS Inc., which helps companies with e-commerce payment processing. Both companies are based in Montreal. Lightspeed did its initial listing in Toronto in 2019.

The biggest IPO from a Canadian company to start trading this year was the US$1.43 billion offering from GFL Environmental Inc., a Vaughan, Ontario-based waste-management company.

FAANG stocks