First half of Canadian IPOs in 2023

TORONTO, July 4, 2023 /CNW/ – Completed 34 Canadian Initial Public Offerings (IPOs) on Canadian exchanges in the first half of 2023, bringing $172 million or $163 million of 13 IPOs, excluding Capital Pool Company (CPC) and Special Purpose Acquisition Corporation (SPAC) IPOs, reported by CPE Analytics.

Based on year-over-year results of first half results, 2023 would be on track to rise $344 million becoming the worst IPO year in terms of total amount raised, representing less than 50% of the $799 million picked up in 2016, the previous worse IPO year since 2016.

The extraordinary calm of Canadian IPO business in the first half of 2023 can be summed up in four words: CSE, Mining, BC and CPC.

Canadian Stock Exchange (CSE)

Completed 12 Canadian IPOs on the CSE, accounting for 92% of Canadian non-CPC/SPAC IPOs or 35% of all Canadian IPOs.

Mining

Completed 12 Canadian Mining IPOs, including 11 on the CSE, for gross proceeds of $157 millionaccounting for 96% of the total amount raised by IPOs without CPC/SPAC or 91% of all IPOs on Canadian exchanges.

Lithium Royalty Corp $150 million IPO on TSX accounted for 95% of total mining IPO amount, 92% of all non-CPC/SPAC IPO amount or 87% of all IPO amount.

British Columbia (BC)

24 IPOs completed by BC companies for $11 millionaccounting for 71% of the total number of IPOs.

Excluding CPC/SPAC, 11 IPOs completed by BC companies for $7, accounting for 85% of the total number of non-CPC/SPAC IPOs. 2 Ontario IPOs accounted for the remaining 15% of non-CPC/SPAC IPOs.

Capital Pool Company (CPC)

Completed 21 CPC IPOs on TSX Venture Exchange (TSX-V) for $9 million, accounting for 62% of all IPOs. IPOs on TSX-V in the first half were CPC only.

First half of 2023 Canadian IPOs by Exchange

1^st Half of Canadian IPOs in 2023: top five insurers

1^st Half of Canadian IPOs in 2023: top law firms

1^st Half of Canadian IPOs in 2023 on foreign exchange
US Gold Mining Inc. (NASDAQ: USGO) – US $20 million
Lucy Scientific Discovery Inc. (NASDAQ: LSDI) – US $5.8 million

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Methodology and terminology

CPC – capital pool company
SPAC – Special Purpose Acquisition Corporation, also known as blank check company in the US

Included:
Canadian stock exchange (CSE, TSX, TSX-V, NEO) or listed Canadian/foreign IPOs, by both Canadian and foreign companies.

Ruled out:

• IPOs by Canadian companies exclusively on foreign exchanges

• ETFs/closed-end funds, listed or unlisted mutual funds

• Listings not offered by qualifying distribution of previously issued securities

• Reverse Acquisitions (RTOs), Qualifying Transactions (QTs), Qualifying Acquisitions (QAs)

Canadian financing

Canadian Finances, a service of CPE Analytics, does Canada only all financing database related to private (VC, PE, private exempt and non-exempt) and public financing by both Canadian and foreign companies, IPOs, M&As, fundraising by both Canadian and foreign professional VC/PE companies, non- investment funds issuer funds and investment funds. https://financing.ca

CPE analysis

CPE Analytics is a leading Canadian provider of all finance information. We provide comprehensive, verified and unbiased information and unparalleled insights and information on public financing, private financing, initial public offerings (IPOs), mergers and acquisitions and fundraising activities of professional investment firms.

CPE analysis is from Canada sole provider of comprehensive IPO reporting and analysis.

CPE Analytics is the data analytics division of CPE Media & Data Company. https://cpeanalytics.ca

CPE Media & Data company

Founded by from Canada CPE Media & Data Company is the most experienced private capital and finance research expert from Canada leader in all financial news and data providers. https://cpecompany.ca/

SOURCE CPE Media Inc.

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