Public equity financing has fallen to its lowest levels in six years, according to the latest report from the Investment Industry Association of Canada.
Equity financings dropped to a mere $6.5 billion in the third quarter, the lowest total since 2002's first quarter, which followed September 11, 2001.
The most recent drop was attributed to a decline in issues of common equity and income trusts, accounting for approximately 90% of the decline.
No initial public offerings were made via the TSX during the quarter. The only new IPOs were on the TSX Venture Exchange, where 58 new companies managed to raise $172 million. That represents a 75% drop from the value of offerings in the same period a year ago.