TORONTO, Jan. 5, 2023 /CNW/ – Canadian initial public offering (IPOs) market ended 2022 with an almost lifeless Q4, if not for the 5 mining IPOs completed on the Canadian Securities Exchanged (CSE), according to Canadian Financings’ IPO report released today.
(Dollar figures are in Canadian dollar, unless otherwise noted)
Canadian IPOs – 2016- 2022 (CNW Group/CPE Media Inc.)
18 IPOs completed in Q4, 2022, consisting of 5 mining IPOs on CSE and 13 Capital Pool Company (CPC) IPOs on the TSX Venture Exchange (TSX-V).
$8.5 million raised by all IPOs, $3.5 million of which raised by 5 CSE IPOs.
For the year, 42 IPOs completed on the four Canadian exchanges in 2022, raising $1.33 billion or 114 IPOs for $1.68 billion including CPC and Special Purpose Acquisition Corporation (SPAC) IPOs.
CSE led all exchanges in total number of non-CPC/SPAC IPOs in 2022 with 26 IPOs, accounting for 62% of total number of non-CPC/SPAC IPOs.
TSX IPOs raised $1.51 billion from 5 IPOs or $1.19 billion if 2 SPAC IPOs were excluded.
Breakdowns by Exchanges (bracket – non-CPC/SPAC)
- CSE – 26 IPOs for $29 million (26 IPOs for $29 million)
- NEO – 1 IPO for $2 million (1 IPO for $2 million)
- TSX – 5 IPOs for $1,509 million (3 IPOs for $1,187 million)
- TSX Venture – 82 IPOs for $144 million (12 IPOs for $107 million)
2022 was a predominantly mining IPO year with 31 IPOs, representing 74% of total number of non-CPC/SPAC IPOs. 21 of the 31 IPOs were completed on the CSE.
Ivanhoe Electric Inc.’s US $169 million IPO on TSX and NYSE American was the lone VC/PE IPO in 2022.
Austin Gold Corp.’s IPO on NYSE American and Bruush Oral Care Inc.’s IPO on NASDAQ were 2 IPOs completed by Canadian companies listed solely on foreign exchanges.
Top Law Firms by # of IPOs (7+)
- MLT Aikins LLP
- Vantage Law Corporation
- Harper Gray LLP
- Miller Thomson LLP
- DS Lawyers LLP (Calgary)
- DuMoulin Black LLP
- Fasken Martineau DuMounlin LLP
- McMillan LLP
- Borden Ladner Gervais LLP
- Cassels Brock & Blackwell LLP
- DLA Piper (canada) LLP
- Gretz Prince Wells LLP
- Peterson McVicar LLP
Top Investment Dealers by # of Lead/co-Lead IPOs (3+)
- Haywood Securities Inc.
- Canaccord Genuity Corp.
- Research Capital Corporation
- Leede Jones Gable Inc.
- PI Financial Corp.
- iA Private Wealth Inc.
- BMO Nesbitt Burns Inc.
- Richardson Wealth Limited
2022 Canadian IPO Summary Overview is available from financings.ca: https://www.financings.ca/reports/
Methodology and Terminology
CPC – capital pool company
SPAC – special purpose acquisition corporation also blank check company in the US
Included:
Canadian exchange (CSE, TSX, TSX-V, NEO) or cross-listed Canadian/foreign exchange IPOs, by both Canadian and foreign firms.
Excluded:
- IPOs by Canadian firms solely on foreign exchanges
- 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)
Canadian Financings
Canadian Financings, a service of CPE Analytics, is canada only all financings database covering private (VC, PE, private exempt and non-exempt) and public financings by both Canadian and foreign firms, IPOs, M&As, fundraisings by, both Canadian and foreign, professional VC/PE firms, non-investment fund issuer funds, and investment funds. https://financings.ca
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.
CPE Analytics is 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
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 Inc.
For further information: Ted Liu, President & CEO, CPE Media & Data Company, 647-782-8818, [email protected]
