The survey tracks Initial Public Offering (IPO) activity on the Toronto Stock Exchange (TSX) and the TSX Venture Exchange in nine market categories including:
- Financial Services
- Forestry
- Life Sciences
- Mining
- Oil & Gas
- Products (including consumer and industrial products)
- Real Estate
- Technology & Media (including telecommunications and entertainment)
- Other (including transportation, environment, pipeline and utilities)
Key Findings
Battered by a perfect storm of negative influences, the market for new public offerings on Canadian equity markets fell to another record low in the second quarter of 2008.
Eighteen new issues on all Canadian exchanges in the period April 1-June 30, 2008 gathered just $466 million in new equity, down from 20 IPOs worth $555 million in the same period of 2007. The second quarter of 2008 saw just seven new issues on the TSX for a value of $434 million, compared to eight IPOs worth $453 million in the same quarter of 2007.
There were a total of 38 new issues on all exchanges in the first half of 2008, down from 41 in the same period of 2007. A total value of $614 million in the first half of this year was off almost one-third from the $855 million in the first half of 2007. The TSX saw 10 new issues in the first half of this year for a value of $547 million, down from 13 IPOs valued at $644 million during the same period last year.
At its current pace, the market will struggle to reach half the value of the slowest period of the decade, when just 46 new issues worth $2.07 billion reached the market in 2001. 2005 was the best year for IPOs, when 119 new issues worth more than $6.9 billion came to market.
For a more detailed view of our survey results, please read the electronic file below.
Previous Editions of Survey Report
