IPOs market sees 500% rise, real estate strongest sector: PwC

The Canadian initial public offerings (IPOs) market has seen total proceeds of $1.3 billion from all Canadian exchanges in the first half of 2013 – ...

The Canadian initial public offerings (IPOs) market has seen total proceeds of $1.3 billion from all Canadian exchanges in the first half of 2013 – a jump of almost 500% from the $220 million raised in the same period last year.

In the second quarter alone, 13 new issues raised a total of $870 million. Real estate was the most active sector during this period, which saw four new issues of real estate investment trusts (REITs) worth $293 million – more than a third of the total of all new issues.

“Real estate is an area of stability and growth, something rare in a volatile market,” says PwC national IPO services leader Dean Braunsteiner.

“With more REITs in the pipeline, including a substantial issue coming from Loblaws, the real-estate sector has largely steered around the market volatility of the last few weeks.”

Mining IPOs remain “in a slump,” said Braunsteiner, due to depressed commodity prices.

The oil and gas sector saw a single transaction in Q2 – a $250 million new equity issue by Oryx Petroleum.

ecrawford@biv.com

@EmmaCrawfordBIV

comments powered by Disqus

Also Read

More From Economy

Canada takes the 11th spot overall when it comes to the top destinations for expats around the world, according to an HSBC survey   

Read Article

Canada’s central bank is keeping its overnight rate target at 1% – the same rate it has been for more than four years and for ...

Read Article

Economy

BIV on Global BC: GDP in Vancouver

By Oct. 21, 2014, 3:17 p.m.

Tyler Orton discusses the expected boost to Vancouver's GDP

Read Article

Most entrepreneurs launch companies without a business plan: Small Business BC survey

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

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