Boom Time for Canadian Tech IPOs

After a lull in Canadian technology IPOs, the tide seems to be turning. There have already been 19 listings so far, with dozens more on the way.

Yan Barcelo 3 May, 2021 | 1:06AM
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According to Morningstar Pitchbook data there was a dearth of technology initial public offerings (IPOs) in recent years, with only two listing in 2016, three in 2018 and two in 2019; 2017 was an exception with ten.

But in the first quarter of 2021 alone, according to the Canadian Venture Capital Association (CVCA), 19 start ups reached the stock market. “It’s the best quarter we’ve seen in the last 15 years, in terms of capital raised,” says Kim Furlong, CEO of the CVCA. And according to TMX Group, 17 more IPOs were announced in the same quarter, making it a total of 32 IPOs that stand to raise $3.2 billion in IPOs. That’s a substantial vaulting compared to the six tech IPOs that took place in 2020, according to Pitchbook Data.

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About Author

Yan Barcelo  is a veteran financial and economic journalist with more than 30 years of experience, writing for many publications in Toronto and in Montreal, including CPA MagazineLes Affaires and Commerce.

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