IPOs in Canada in third quarter down sharply

The number and value of IPOs on Canadian stock exchanges fell sharply in the third quarter compared with a year ago as investors worried about the sovereign debt crisis in Europe and the strength of the U.S. economic recovery, according to a report by PwC. The international consultancy said in a report that there were just were seven initial public offerings with a total value of $271 million on Canadian stock exchanges in the quarter, including just one on the Toronto Stock Exchange worth $212 million.

The number and value of IPOs on Canadian stock exchanges fell sharply in the third quarter compared with a year ago as investors worried about the sovereign debt crisis in Europe and the strength of the U.S. economic recovery, according to a report by PwC. The international consultancy said in a report that there were just were seven initial public offerings with a total value of $271 million on Canadian stock exchanges in the quarter, including just one on the Toronto Stock Exchange worth $212 million.

hat compared with 20 new offerings with a total value of $537 million a year ago when there were four on the Toronto Stock Exchange worth a total of $475 million.

In the first three quarters of this year, there were 39 initial public offerings on Canadian stock exchanges with a total value of $441 million, including three valued at $397 million on the Toronto Stock Exchange. That compared with 54 new equity issues with a value of $1.9 billion, including 14 on the TSE for $1.7 billion, in the first three quarters of 2011.

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