Canada’s market for initial public offerings (IPOs) rebounded in this year’s first half as nine stock market debuts valued at $200 million or more were completed.
That puts Canada’s IPO market ahead of 2020 when there were 11 IPOs of $200 million or more for the entire year, according to data from Bloomberg Markets.
This year, IPOs have not been dominated by technology start-ups but by older companies that are raising money for growth or allowing their owners to cash in some gains.
That includes the return of formerly public companies such as space technology provider MDA and Softchoice, a Toronto-based information technology company that was bought out by Birch Hill Equity Partners Management in 2013.
Softchoice closed a $350 million IPO earlier in June, allowing Birch Hill to take out $249 million in proceeds while keeping control with a stake of about 60%.