CPE Analytics today released the first half of 2020 Canadian initial public offering (IPO) report.
Among the findings:
- 35 IPOs completed on CSE, TSX, TSX Venture and NEO for $2.48 billion in gross proceeds, or 17 IPOs for $2.12 billion, if Capital Pool Company (CPC) ad Special Purpose Acquisition Corporation (SPAC) IPOs were excluded.
- CSE led all Canadian Exchanges in total number of non-CPC/SPAC IPOs, accounting for 15 of 17 non-CPC/SPAC IPOs (88%), 43% of all IPOs.
- BC Partners, Ontario Teachers’ Pension Plan, and GIC Private backed GFL Environmental Inc. (TSX/NYSE: GFL), raised $1.9B in a cross-border IPO, representing 90% of all non-CPC/SPAC amount or 77% of all IPO amount.
- Mining issuers, all of them on CSE, accounted for 56% of total number of non-CPC/SPAC IPOs or 28% of all IPOs.