{"id":408679,"date":"2021-01-05T09:33:26","date_gmt":"2021-01-05T14:33:26","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=408679"},"modified":"2021-01-05T09:33:26","modified_gmt":"2021-01-05T14:33:26","slug":"2020-canadian-ipo-mixed-results-number-77-down-amount-5-55b-up-driven-by-pe-backed-ipos","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/2020-canadian-ipo-mixed-results-number-77-down-amount-5-55b-up-driven-by-pe-backed-ipos\/","title":{"rendered":"2020 Canadian IPO mixed results &#8211; number (77) down, amount ($5.55B) up driven by PE-backed IPOs"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">Canada NewsWire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">TORONTO<\/span>, <span class=\"xn-chron\">Jan. 5, 2021<\/span> \/CNW\/ &#8211;\u00a0While the US initial public offering (IPO) and special purpose acquisition corporation (SPAC) market experienced an unprecedent boom in 2020, Canadian IPO market continued to struggle with mixed results. <\/p>\n<p>77 IPOs including capital pool companies (CPCs) and SPACs were completed in 2020 on four Canadian stock exchanges, raising <span class=\"xn-money\">$5.55 billion<\/span> in aggregate gross proceeds, or excluding CPCs and SPACs, 43 IPOs for <span class=\"xn-money\">$4.85 billion<\/span>. <\/p>\n<p>The 2020 IPO numbers represent a decrease of 29% in total number of IPOs and an increase of 116% in total amount or, excluding CPC\/SPAC IPOs, a decrease of 7% in total IPO number and an increase of 605% in total amount from 2019.<\/p>\n<p>Excluding CPC\/SPAC IPOs, CSE continues to lead all Canadian exchanges with 25 IPOs (58%), comparing to 31 IPOs (67%) in 2019.\u00a0 <\/p>\n<p>Mining issuers led all sectors with 23 IPOs for <span class=\"xn-money\">$324 million<\/span>, accounting for 53% and 7% of the total number of Non-CPC\/SPAC IPOs and total amount respectively. <\/p>\n<p>4 Private Equity (PE) and 2 Venture Capital (VC) backed IPOs dominated the total amount, raising <span class=\"xn-money\">$3,395 million<\/span> and <span class=\"xn-money\">$144 million<\/span> respectively, or <span class=\"xn-money\">$3,539 million<\/span> in aggregate, representing 64% of total IPO amount or 73% of total Non-CPC\/SPAC IPO amount. <\/p>\n<p>\n        <b>2020 IPO Breakdown by Exchanges (Non-CPC\/SPAC)<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>CSE \u2013 25 IPOs for <span class=\"xn-money\">$43 million<\/span> (25 IPOs for <span class=\"xn-money\">$43 million<\/span>) <\/li>\n<li>TSX \u2013 11 IPO for <span class=\"xn-money\">$4,726 million<\/span> (10 IPOs for <span class=\"xn-money\">$4,460 million<\/span>) <\/li>\n<li>TSX Venture Exchange \u2013 39 IPOs for <span class=\"xn-money\">$364 million<\/span> (8 IPOs for <span class=\"xn-money\">$350 million<\/span>) <\/li>\n<li>NEO \u2013 2 IPOs for <span class=\"xn-money\">$421 million<\/span> (nil)<\/li>\n<\/ul>\n<p>\n        <b>2020 Canadian IPOs League Table \u2013 Top 8 Law Firms (by # IPOs only)<\/b>\n      <\/p>\n<p>\n        <b>All IPO Ranking <\/b>(#, $total IPO value)<\/p>\n<ol type=\"1\">\n<li>Miller Thomson LLP (13, <span class=\"xn-money\">$17M<\/span>) <\/li>\n<li>Blake, Cassels &amp; Graydon LLP (11, <span class=\"xn-money\">$1,549M<\/span>) <\/li>\n<li>DuMoulin Black LLP (8, <span class=\"xn-money\">$17M<\/span>) <\/li>\n<li>\n          <span class=\"xn-person\">Cassels Brock<\/span> &amp; Blackwell LLP (7, <span class=\"xn-money\">$38M<\/span>) <\/li>\n<li>Harper Grey LLP (7, <span class=\"xn-money\">$10M<\/span>) <\/li>\n<li>MLT Aikins LLP (7, <span class=\"xn-money\">$5M<\/span>) <\/li>\n<li>Peterson McVicar LLP (7, <span class=\"xn-money\">$2M<\/span>) <\/li>\n<li>Borden Ladner Gervais LLP (6, <span class=\"xn-money\">$12M<\/span>)<\/li>\n<\/ol>\n<p>\n        <b>Non-CPC\/SPAC IPO Ranking <\/b>(#, $total IPO value)<\/p>\n<ol type=\"1\">\n<li>Blake, Cassels &amp; Graydon LLP (8, <span class=\"xn-money\">$861M<\/span>) <\/li>\n<li>Miller Thomson LLP (7, <span class=\"xn-money\">$16M<\/span>) <\/li>\n<li>Stikeman Elliott LLP (5, <span class=\"xn-money\">$2,165M<\/span>) <\/li>\n<li>DuMoulin Black LLP (5, <span class=\"xn-money\">$16M<\/span>) <\/li>\n<li>Harper Grey LLP (5, <span class=\"xn-money\">$10M<\/span>) <\/li>\n<li>\n          <span class=\"xn-person\">Cassels Brock<\/span> &amp; Blackwell LLP (4, <span class=\"xn-money\">$37M<\/span>) <\/li>\n<li>Vantage Law Corporation (4, <span class=\"xn-money\">$6M<\/span>) <\/li>\n<li>Lotz &amp; Company (4, <span class=\"xn-money\">$2M<\/span>)<\/li>\n<\/ol>\n<p>\n        <b>2020 Canadian IPOs League Table \u2013 Top 13 Underwriters (by # IPOs Only)<\/b>\n      <\/p>\n<p>\n        <b>All IPO Ranking <\/b>(#, $total IPO value)<\/p>\n<ol type=\"1\">\n<li>Canaccord Genuity Corp. (26, <span class=\"xn-money\">$2,535M<\/span>) <\/li>\n<li>Haywood Securities Inc. (24, <span class=\"xn-money\">$ 25M<\/span>) <\/li>\n<li>BMO Nesbitt Burns Inc. (12, <span class=\"xn-money\">$ 4,651M<\/span>) <\/li>\n<li>Scotia Capital Inc. (9, <span class=\"xn-money\">$4,349M<\/span>) <\/li>\n<li>CIBC World Markets Inc. (8, <span class=\"xn-money\">$4,372M<\/span>) <\/li>\n<li>Leede Jones Gable Inc. (8, <span class=\"xn-money\">$12M<\/span>) <\/li>\n<li>Raymond James Ltd. (7, <span class=\"xn-money\">$4,053M<\/span>) <\/li>\n<li>TD Securities Inc. (7, <span class=\"xn-money\">$4,045M<\/span>) <\/li>\n<li>National Bank Financial Inc. (7, <span class=\"xn-money\">$4,039M<\/span>) <\/li>\n<li>Industrial Alliance Securities Inc. (7, <span class=\"xn-money\">$1,017M<\/span>) <\/li>\n<li>Mackie Research Capital Corporation (7, <span class=\"xn-money\">$9M<\/span>) <\/li>\n<li>RBC Dominion Securities Inc. (6, <span class=\"xn-money\">$4,006M<\/span>) <\/li>\n<li>Stifel Nicolaus Canada Inc. (6, <span class=\"xn-money\">$3,623M<\/span>)<\/li>\n<\/ol>\n<p>\n        <b>Non-CPC\/SPAC IPO Ranking <\/b>(#, $total IPO value)<\/p>\n<ol type=\"1\">\n<li>Canaccord Genuity Corp. (17, <span class=\"xn-money\">$1,846M<\/span>) <\/li>\n<li>BMO Nesbitt Burns Inc. (12, <span class=\"xn-money\">$4,651M<\/span>) <\/li>\n<li>Haywood Securities Inc. (9, <span class=\"xn-money\">$20M<\/span>) <\/li>\n<li>Scotia Capital Inc. (9, <span class=\"xn-money\">$4,349M<\/span>) <\/li>\n<li>CIBC World Markets Inc. (8, <span class=\"xn-money\">$4,372M<\/span>) <\/li>\n<li>Raymond James Ltd. (7, <span class=\"xn-money\">$4,053M<\/span>) <\/li>\n<li>TD Securities Inc. (7, <span class=\"xn-money\">$4,045M<\/span>) <\/li>\n<li>National Bank Financial Inc. (7, <span class=\"xn-money\">$4,039M<\/span>) <\/li>\n<li>RBC Dominion Securities Inc. (6, <span class=\"xn-money\">$4,006M<\/span>) <\/li>\n<li>Stifel Nicolaus Canada Inc. (6, <span class=\"xn-money\">$3,623M<\/span>) <\/li>\n<li>Leede Jones Gable Inc. (6, <span class=\"xn-money\">$12M<\/span>) <\/li>\n<li>Mackie Research Capital Corporation (6, <span class=\"xn-money\">$8M<\/span>) <\/li>\n<li>Desjardins Securities Inc.\u00a0 (5, <span class=\"xn-money\">$952M<\/span>)<\/li>\n<\/ol>\n<p>\n        <b>2020 Top Five Canadian IPOs (Canadian and foreign exchanges)<br \/><\/b>Three of top five Canadian IPOs were done on the NASDAQ Exchange. The Top Five are backed either by private equity or venture capital firms. <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prnsbts prnrbrs prnvab prnsbbs prnpl6 prnsbls prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Issuer<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Backed<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Close Date<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ Raised (Mil)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Exchange(s)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Valuation* ($Mil)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">GFL Environmental Inc.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">PE<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2020-03-05<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1,425 (US)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">TSX\/NYSE: GFL<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$6,416 (US)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Nuvei Corporation<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">PE<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2020-09-22<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$805 (US)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">TSX: NVEI<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$3,390 (US)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">AbCellera Biologics Inc.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">VC<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2020-12-15<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$555 (US)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">NASDAQ: ABCL<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$5,384 (US)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Repare Therapeutics Inc.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">VC<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2020-06-23<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$253 (US)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">NASDAD: RPTX<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$700 (US)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Fusion Pharmaceuticals Inc.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">VC<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2020-06-30<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$213 (US)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">NASDAQ: FUSN<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$708 (US)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Report Summary<br \/><\/b>2020 Canadian IPO Report Summary can be downloaded from <b>financings.ca<\/b><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3025306-1&amp;h=381145108&amp;u=https%3A%2F%2Fwww.financings.ca%2Freports%2F&amp;a=https%3A%2F%2Fwww.financings.ca%2Freports%2F\" rel=\"nofollow noopener noreferrer\">https:\/\/www.financings.ca\/reports\/<\/a><\/p>\n<p>\n        <b>About CPE Analytics<\/b>\n      <\/p>\n<p>CPE Analytics, through financings.ca, is <span class=\"xn-location\">Canada&#8217;s<\/span> all public and private financing data provider. We offer comprehensive data coverage and analysis on private capital and public financings, IPOs, M&amp;As and VC\/PE fundraising.\u00a0More information:\u00a0 <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3025306-1&amp;h=896521556&amp;u=https%3A%2F%2Fcpeanalytics.ca%2F&amp;a=https%3A%2F%2Fcpeanalytics.ca\" rel=\"nofollow noopener noreferrer\">https:\/\/cpeanalytics.ca<\/a><\/p>\n<p>CPE Analytics is a division of CPE Media Inc., <span class=\"xn-location\">Canada&#8217;s<\/span> all financing news and data provider.<\/p>\n<p>SOURCE  CPE Media Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C5740&amp;Transmission_Id=202101050930CANADANWWEB______C5740&amp;DateId=20210105\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada NewsWire TORONTO, Jan. 5, 2021 \/CNW\/ &#8211;\u00a0While the US initial public offering (IPO) and special purpose acquisition corporation (SPAC) market experienced an unprecedent boom in 2020, Canadian IPO market continued to struggle with mixed results. 77 IPOs including capital pool companies (CPCs) and SPACs were completed in 2020 on four Canadian stock exchanges, raising $5.55 billion in aggregate gross proceeds, or excluding CPCs and SPACs, 43 IPOs for $4.85 billion. The 2020 IPO numbers represent a decrease of 29% in total number of IPOs and an increase of 116% in total amount or, excluding CPC\/SPAC IPOs, a decrease of 7% in total IPO number and an increase of 605% in total amount from 2019. Excluding CPC\/SPAC IPOs, CSE continues &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/2020-canadian-ipo-mixed-results-number-77-down-amount-5-55b-up-driven-by-pe-backed-ipos\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;2020 Canadian IPO mixed results &#8211; number (77) down, amount ($5.55B) up driven by PE-backed IPOs&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-408679","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>2020 Canadian IPO mixed results - number (77) down, amount ($5.55B) up driven by PE-backed IPOs - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/2020-canadian-ipo-mixed-results-number-77-down-amount-5-55b-up-driven-by-pe-backed-ipos\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2020 Canadian IPO mixed results - number (77) down, amount ($5.55B) up driven by PE-backed IPOs - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Canada NewsWire TORONTO, Jan. 5, 2021 \/CNW\/ &#8211;\u00a0While the US initial public offering (IPO) and special purpose acquisition corporation (SPAC) market experienced an unprecedent boom in 2020, Canadian IPO market continued to struggle with mixed results. 77 IPOs including capital pool companies (CPCs) and SPACs were completed in 2020 on four Canadian stock exchanges, raising $5.55 billion in aggregate gross proceeds, or excluding CPCs and SPACs, 43 IPOs for $4.85 billion. The 2020 IPO numbers represent a decrease of 29% in total number of IPOs and an increase of 116% in total amount or, excluding CPC\/SPAC IPOs, a decrease of 7% in total IPO number and an increase of 605% in total amount from 2019. Excluding CPC\/SPAC IPOs, CSE continues &hellip; Continue reading &quot;2020 Canadian IPO mixed results &#8211; number (77) down, amount ($5.55B) up driven by PE-backed IPOs&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/2020-canadian-ipo-mixed-results-number-77-down-amount-5-55b-up-driven-by-pe-backed-ipos\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-05T14:33:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C5740&amp;Transmission_Id=202101050930CANADANWWEB______C5740&amp;DateId=20210105\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/2020-canadian-ipo-mixed-results-number-77-down-amount-5-55b-up-driven-by-pe-backed-ipos\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/2020-canadian-ipo-mixed-results-number-77-down-amount-5-55b-up-driven-by-pe-backed-ipos\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"2020 Canadian IPO mixed results &#8211; 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