Canadian IPOs raise $2.7 billion in 2013, up 50 per cent from previous year
TORONTO - PricewaterhouseCoopers says there was about $2.7 billion raised through Canadian initial public offerings last year â€” a 50 per cent increase from 2012.
The accounting and consulting firm says there were a total of 30 IPOs on all Canadian exchanges in 2013, including six in the fourth quarter that raised $582.6 million on the Toronto Stock Exchange and TSX Venture Exchange.
In 2012, there were 62 issuers that went public but they raised only about $1.8 billion, including 23 in the fourth quarter that raised $1.3 billion.
IPOs enable businesses to raise money by selling shares or other types of equity that will be listed and traded through a stock exchange.
Investors who buy into the business through the IPO will reap a profit if they sell the stock at a higher price, or a loss if the price goes down.
Among the most notable Canadian IPOs in the fourth quarter were Canadian Tire's real estate spinoff. which began trading in October. CT Real Estate Investment Trust (TSX: CRT.UN) began trading at $10.01 on Oct. 23 and closed the year at $10.92 on Dec. 31.
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