Deals
RBC Retakes Canadian IPO Crown as Market Surge Fuels Record Year
- Large deals, technology strength spur C$11.9 billion in deals
- M&A frenzy powers equity sales to C$55.8 billion annual record
Pedestrians walk past Royal Bank of Canada headquarters in Toronto.
Photographer: Stephanie Foden/BloombergThis article is for subscribers only.
Royal Bank of Canada’s capital-markets division rose to become the top arranger of initial public offerings in the nation during 2021, reclaiming the title as surging equity markets fueled a record year for new stock issuances.
Canadian companies undertook 173 IPOs with a total value of C$11.9 billion ($9.3 billion), according to data compiled by Bloomberg. That tops the previous record of C$8.24 billion set in 2006. Drivers included a government stimulus-aided economic rebound amid the Covid crisis and record low interest rates that combined to spur a 22% jump in the S&P/TSX Composite Index.