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

Fiona Anderson discusses the contraction in the Canadian economy in April

Read Article

The country could be on the verge of a technical recession, according to one economist

Read Article

Local experts answer your business questions  

Read Article

Economy

Insider trading, June 30, 2015

By June 30, 2015, midnight

The following is a list of stock trades made by corporate executives, directors and other company insiders of B.C.’s public companies filed the week ending ...

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

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