Canada’s IPO Drought Reaches a Full Year With No End in Sight

Canada’s biggest market for initial public offerings is marking a grim milestone of a full year without a new corporate listing, and with investors focused on a narrow set of themes, senior bankers don’t expect relief before the second half of 2024.

The Toronto Stock Exchange is in the middle of an historic drought for IPOs; the last company to debut on the country’s premier venue was Lithium Royalty Corp., which raised C$150 million ($111 million) last March. The lack of new listings is raising concerns about the health of Canada’s equity markets as a place to raise capital. ...