2024 Canadian IPOs: Groupe Dynamite, CSE, Mining
All dollar ($) figures in Canadian dollars unless otherwise noted.
TORONTO, Jan. 6, 2025 /CNW/ - The dismal state of Canadian initial public offerings (IPOs) in 2024 can be summarized in three words: Dynamite (Groupe Dynamite Inc.), CSE, Mining, according to 2024 IPO analysis released by CPE Analytics today.
25 IPOs completed on four Canadian Stock Exchanges: Canadian Securities Exchange (CSE), TSX Venture Exchange (TSX-V), Toronto Stock Exchange (TSX) and NEO/CBOE Canada, raising $642.42 million in aggregate gross proceeds. Excluding capital pool company (CPC) and special purpose acquisition corporation (SPAC) IPO, 17 IPOs completed for aggregate gross proceeds of $345.84 million.
Dynamite – Groupe Dynamite Inc.
Montreal based Groupe Dynamite Inc. raised $313.6 million in gross proceeds, including proceeds from a partial exercise of over-allotment option, accounting for 49% of the total IPO amount or 91% of the total non-CPC/SPAC amount.
Groupe Dynamite was the sole non-CPC/SPAC IPO on The Toronto Stock Exchange (TSX) in 2024.
CSE – Canadian Securities Exchange
11 IPOs completed on the CSE, raising $21.84 million. The CSE led in the number of IPOs in 2024 with 44% of total number of IPOs or 65% of total number of non-CPC/SPAC IPOs.
Mining IPOs
12 mining IPOs raised $13.79 million, accounting for 48% of total number of IPOs or 71% of total number of non-CPC/SPAC IPOs.
8 and 4 mining IPOs completed on the CSE and TSX-V respectively.
December 2024
There was no IPO completed in December with exception of the partial exercise of over-allotment granted by Groupe Dynamite.
Canadian IPO on US Exchange
Brazil Potash Corp. completed its IPO on NYSE America, raising US $30 million through the issuance of 2,000,000 shares priced at US $15 per share.
Summary report
Summary report can be downloaded from financings.ca website: https://www.financings.ca/reports/
Methodology and Terminology
CPC – capital pool company
SPAC – special purpose acquisition corporation also known as blank check company in the USA
Included:
Canadian exchange (CSE, TSX, TSX-V, NEO/CBOE Canada) or cross-listed Canadian/foreign exchange IPOs, by both Canadian and foreign firms.
Excluded:
- IPOs by Canadian firms solely on foreign exchanges
- ETFs/closed-end funds, publicly listed or non-listed investment funds
- Non-offering listings by qualification of distribution of previously issued securities
- Reverse take-overs (RTOs), qualifying transactions (QTs), qualifying acquisitions (QAs)
Canadian Financings
Canadian Financings, a service of CPE Analytics, is Canada's only all financings database covering private (VC, PE, private exempt and non-exempt) and public financings by both Canadian and foreign firms, both debt and equity, IPOs, M&As, fundraisings by both Canadian and foreign, professional VC/PE firms, non-investment fund issuer funds, and investment funds. https://financings.ca
CPE Analytics
CPE Analytics is a Canadian all financing intelligence provider. We provide comprehensive, verified, and unbiased information and unmatched insights and intelligence on public financings, private financings, initial public offerings (IPOs), M&As, professional investment firm fundraising activities.
CPE Analytics is Canada's only provider of comprehensive IPO report and analysis.
CPE Analytics is the data analytics division of CPE Media & Data Company. https://cpeanalytics.ca
CPE Media & Data Company
Founded by Canada's most experienced private capital and financing research experts, CPE Media & Data Company is Canada's leading all financing news and data provider. https://cpecompany.ca/
SOURCE CPE Media & Data Company
Ted Liu, CPE Media & Data Company, 647-782-8818, [email protected]
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