Canadian IPO market turned around by $1.3 billion surge in Q4: PwC

The Canadian IPO market saw a $1.3 billion surge in new equity issues in 2012’s fourth quarter, according to the results of PricewaterhouseCoopers’ annual survey ...

The Canadian IPO market saw a $1.3 billion surge in new equity issues in 2012’s fourth quarter, according to the results of PricewaterhouseCoopers’ annual survey of Canadian equity markets released this morning.

The total new equity issued in 2012 was $1.8 billion – meaning Q4’s issues made up over two-thirds of the issues for the entire year.

“The results of the last quarter not only speak to the pent-up demand for equity capital, they are a testament to the underlying strength of the larger Canadian economy,” said PwC national IPO services leader Dean Braunsteiner.

“We went from a disappointing start to a reasonable outcome in 12 months.”

In 2012, all Canadian exchanges saw a total of 62 IPOs comprising the $1.8 billion, compared with 2011’s 61 IPOs worth $2 billion.

Braunsteiner said although the fourth quarter’s results are positive, it is not all smooth sailing going into 2013.

“The usual caveats still apply,” he said. “Issues left unresolved by the ‘fiscal cliff’ negotiations in the U.S. will continue to hang over that market, and we are far from a resolution of the debt crisis in Europe.

“Caution is still the watchword.”

A $365 million IPO by Hudson’s Bay Company in Q4 was the largest of the year.

ecrawford@biv.com

@EmmaCrawfordBIV

comments powered by Disqus

Also Read

More From Economy

After sifting through 460 nominations from across the province, the Small Business BC awards has culled its list of semi-finalists down to just 10 in ...

Read Article

It’s that time of year again -- Christmas time. You may have noticed.

Read Article

The outlook for commodity prices for British Columbia companies in 2015 is a mixed bag that includes... 

Read Article

Consumer prices were up 1.2% in British Columbia year-over-year to November, which is slightly higher than...

Read Article

Manufacturing sales in British Columbia jumped 7.9% in the 12 months to October...

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

* You can modify your newsletter subscriptions at the bottom of any newsletter you receive.
×