PwC says Canadian initial public offering market in 2018 totalled $2.2 billion

TORONTO — PwC says the initial public offering market in Canada totalled $2.2 billion last year, less than half of what was seen in 2017.

The firm says in all of 2018 there were 54 new equity issues on four exchanges that generated a total of $2.2 billion.

That compared with the $5.1 billion raised from 37 IPOs in all of 2017.

The largest IPO of 2018 was the $462-million Ceridian HCM Holding issue of the second quarter.

It was followed by MAV Beauty Brands with $241 million and AltaGas at $239 million.

Dean Braunsteiner, national IPO leader at PwC Canada, says while cannabis firms grabbed the headlines, a surge of activity on the Canadian Securities Exchange and a return of junior miners to the markets were also notable developments of 2018.

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