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.

Canadian Exchange IPO Summary Report 2024 (CNW Group/CPE Media & Data Company)

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/

CPE Media & Data Company logo (CNW Group/CPE Media & Data Company)

SOURCE CPE Media & Data Company

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