Outlook for Canadian IPO Activity Uncertain: PwC Survey Reported On By Big4.com

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Canadian IPO market struggles after one of poorest showings in recent memory

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Big4.com, the premier social networking forum for professionals and alumni of Accenture, Andersen, BearingPoint, Capgemini, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers, PwC has highlighted the major points from a PwC survey that shows the Canadian IPO market is struggling.

PwC’s survey of the IPO market in Canada is ten years old. These quarterly reports provide information to the corporate sector, investors, the media and others providing perspective. Without a single IPO on the TSX, the total new capital raised on Canadian exchanges struggled to top $20 million from 13 new issues in the first quarter of 2012.

Dean Braunsteiner, PwC national IPO services leader commented on the situation that has left the outlook for the balance of 2012 uncertain.

“The first quarter 2012 results were an extension of the low levels of activity in the final quarter of 2011 when markets were weighed down by the European debt crisis and extreme market volatility,” he says. “The much hoped-for resolution of the debt crisis in Greece came too late to help the IPO market in the first quarter, and concerns over slowing growth in China have troubled commodity markets. It’s not surprising the first quarter of 2012 looked a lot like the last quarter of 2011.”
Big4.com also reported on the fact that a single $25 million issue on the TSX in the fourth quarter and a reduction in activity on the TSX Venture exchange generated just $52 million from 10 new issues on all Canadian exchanges in the final three months of 2011. First quarter 2012 IPO results were 10% of the same period of 2011, when 13 new issues, including two on the TSX, generated more than $198 million.

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Kristy Short
Big4.com
(734) 481-0186
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