IPO Fever Hits Canada With Offerings At Highest Levels Since 2014

AbCellera Biologics’ $ 483 million IPO by AbCellera Biologics last week brought the total value of IPOs in Canada this year to $ 5.72 billion, bringing the total value of IPOs in Canada this year to $ 5.72 billion. the biggest year mark on these deals since 2014.

That number represents the value of new shares issued in 88 Canadian IPOs that began trading this year, regardless of whether or not they are listed on a local exchange. AbCellera, a Peter Thiel-backed biotechnology involved in the Covid-19 treatment, chose to list it on the Nasdaq, not the Toronto Stock Exchange.

Total revenue this year will increase if some of the 12 currently pending IPOs begin trading. Thus, this year is likely to surpass 2014, when companies raised US $ 5.94 billion from IPOs. That was the year when Canadian energy company PrairieSky Royal was launched to the public.

The offering of AbCellera – with its share price nearly tripling on its first day of trading last week – continued a strong year for IPOs in the pharmaceutical industry as the pandemic spurred interest in companies creating new therapy.

In addition to Vancouver-based AbCellera, the year 2020 also saw IPOs from cancer drug developer Repare Therapeutics based in St. Mary’s. Laurent, Quebec and Fusion Pharmaceuticals are headquartered in Hamilton, Ontario.

Tech companies have had a great year too, like Nuvei and Lightspeed POS. These two companies handle commercial payments and are both based in Montreal.

The biggest IPO from a Canadian company this year was a $ 1.43 billion offering from GFL Environmental, a waste management company based in Vaughan, Ontario.

This content is also available in: Tiếng Việt

#seesomething, saysomething

Culture Magazin magazine always wants to listen and receive contributions from readers.
In case you submit articles about your ideas, interesting social events or hot news that you would like to share with us, email us at info@culturerus.com or inbox us at the FB page – https://www.facebook.com/culturemagazin.
Try our test reporter once. Quality articles will be selected and posted on Culturemagazin’s website and official social networking sites!
#seesomething, saysomething

Discover

Bài Liên Quan

This content is also available in: Tiếng Việt