CSE leads H1 2022 Canadian exchange non-CPC/SPAC IPOs
TORONTO, July 11, 2022 /CNW/ – 76 Initial public offerings (IPOs) completed on four Canadian stock exchanges for aggregate gross proceeds of $1.62 billion in the first half of 2022, according to the Canadian IPO report released by CPE Analytics, a division of CPE Media & Data Company.
Excluding Capital Pool Company (CPC) and Special Purpose Acquisition Corporation (SPAC), 28 IPOs completed, raising $1.27 billion.
Dollar figures are in Canadian dollar, unless otherwise noted.
2022 first half results represented decreases of 15% in number of IPOs and 77% in total amount respectively compared to the same period in 2021 or substantial decreases of 42% and 80% respectively in non-CPC/SPAC IPOs.
The Canadian Securities Exchange (CSE) led with 16 IPOs, accounting over half (57%) of total number of non-CPC/SPAC IPOs.
Mining IPOs dominated no-CPC/SPAC IPOs in the first half 2022 with 19 IPOs raising gross proceeds of $269 million, accounting for 68% of total number of non-CPC/SPAC IPOs and 21% of total amount.
The CSE led all mining IPOs. 13 of the 19 mining IPOs were completed on the CSE, accounting for 68% of total number of mining IPOs and 46% of total number of non-CPC/SPAC IPOs.
Breakdowns by Exchanges (bracket – non-CPC/SPAC)
- CSE – 16 IPOs for $19 million (16 IPOs for $19 million)
- TSX – 5 IPOs for $1,509 million (3 IPOs for $1,187 million)
- TSX Venture – 54 IPOs for $93 million (8 IPOs for $65 million)
- NEO – 1 IPO for $2 million (1 IPO for $2 million)
2022 First Half Highlights
- PE-backed Ivanhoe Electric Inc. (TSX/NYSE American: IE) was the sole VC/PE backed IPO.
- Agrinam Acquisition Corporation (AGRI.V), a SPAC, was only non-Canadian based IPO.
Canadian companies listed solely or cross-listed on foreign exchanges
- Bausch + Lomb Corporation (NYSE/TSX: BLCO) raised US $630 million in May 2022
- Ivanhoe Electric Inc. (TSX/NYSE American: IE) raised US $169 million in June 2022.
- Austin Gold Corp. (NYSE American: AUST) raised US $15 million in May 2022.
Top Law Firms by # of IPOs (6+)
- MLT Aikins LLP
- Vantage Law Corporation
- Miller Thomson LLP
- DLA Piper (Canada) LLP
- McMillan LLP
- Gretz Prince Wells LLP
- Harper Grey LLP
- Borden Ladner Gervais LLP
- Fasken Martineau DuMounlin LLP
- DuMoulin Black LLP
- DS Lawyers LLP (Calgary)
Top Investment Dealers by # of Lead/co-Lead IPOs (2+)
- Haywood Securities Inc.
- Canaccord Genuity Corp.
- Research Capital Corporation
- Leede Jones Gable Inc.
- PI Financial Corp.
- iA Private Wealth Inc.
- Richardson Wealth Limited
- BMO Nesbitt Burns Inc.
Report Summary
First Half 2022 Canadian IPO Summary Overview is available from financings.ca: https://www.financings.ca/reports/
Methodology and Terminology
Excluded:
– ETFs/closed-end funds, publicly listed or non-listed investment funds
– Non-offering listings by qualification of distribution of previously issued securities
– Reverse take-overs (RTOs), qualifying transactions (QTs), qualifying acquisitions (QAs)
CPC – capital pool company
SPAC – special purpose acquisition corporation also blank check company in the US
CPE Analytics
CPE Analytics is Canada’s leading all financing intelligence provider. We provide comprehensive, verified, and unbiased information and unmatched insights and intelligence on public financings, private financings, initial public offerings (IPOs), M&As, professional investment firm fundraising activities.
We are Canada’s only provider of comprehensive IPO report and analysis.
CPE Analytics is the data analytics division of CPE Media & Data Company. https://cpeanalytics.ca, https://financings.ca
CPE Media & Data Company
Founded by Canada’s most experienced private capital and financing research experts, CPE Media & Data Company is Canada’s leading all financing news and data provider. https://cpecompany.ca/
Source: CPE Media & Data Company