All dollar ($) figures in Canadian dollars unless otherwise
noted.
TORONTO, July 2, 2024
/CNW/ - CPE Analytics is pleased to release its first half 2024
Canadian initial public offering (IPO) summary report today.
12 initial public offerings (IPOs) completed on the four
Canadian exchanges in first half of 2024, raising $12.9 million in gross proceeds, or 6 IPOs for
$11.45 million excluding Capital Pool
Company (CPC) and special purpose acquisition corporation (SPAC)
IPOs.
The IPO figures do not include five investment fund IPOs,
including two publicly listed and three unlisted. Together
the five investment fund IPOs raised $319
million.
2024 H1 non-CPC/SPAC IPO highlight: CSE, junior mining,
cleantech
The Canadian Securities Exchange (CSE) led all non-CPC/SPAC IPOs
with three IPOs for $6.8 million,
accounting 50% of total number of IPOs and 53% of total amount.
Four junior mining IPOs, two each on the CSE and TSX Venture
Exchange, raised aggregate gross proceeds of $2.25 million, accounting for 67% of total number
of IPOs and 20% of the total amount.
Two cleantech IPOs raised $9.2
million in aggregate gross proceeds, or 80% of the total
amount.
The largest IPO in the first half of 2024 was the $5.75 million cleantech offering by BluSky Carbon
Inc. on the CSE.
Canadian IPOs on US or international exchanges
There was no direct IPO completed by Canadian companies on the
US or international stock exchanges during the first half of
2024.
Junior Mining IPOs lead ahead – Q3 is as bleak as H1
There are 8 proposed non-CPC/SPAC IPOs, including one company
stopping updating and likely having withdrawn unofficially: 7
on CSE and 1 on TSX Venture. None is on TSX.
7 of the 8 IPOs are junior mining companies. Only 3 IPOs have
reached stage of final long form prospectus filing.
SPAC IPO
On June 26, 2024, Mercer
Park Opportunities Corp., a Cayman
Islands domiciled SPAC, filed a preliminary prospectus for a
proposed IPO of $200 million.
Canadian participation in US and International IPOs
With the Canadian market remaining deserted and mostly
forgotten, Canadian investors have been actively participated in US
and international IPOs.
During the first half of 2024, Canadian investors invested CDN
$310 million in 17 IPOs in companies
located in the US, Bermuda,
Mexico, Kazakhstan, Finland, France, Germany, Spain, Switzerland, and UK.
The amount invested by Canadian investors, is 27 times of the
total amount raised ($11.45 million)
by Canadian non-CPC/SPAC IPOs.
Summary report
Summary report can be downloaded from financings.ca
website: https://www.financings.ca/reports/
Methodology and Terminology
CPC - capital pool company
SPAC – special purpose acquisition corporation also known as blank
check company in the USA
Included:
Canadian exchange (CSE, TSX, TSX-V, NEO/CBOE Canada) 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's only all financings database covering
private (VC, PE, private exempt and non-exempt) and public
financings by both Canadian and foreign firms, both debt and
equity, 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
CPE Analytics is a Canadian 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
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