Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Report on Business

Streetwise

News and analysis on Bay Street and the world of finance
available exclusively to subscribers of Globe Unlimited

Entry archive:

Where have all the big deals gone? Add to ...

A soaring equity market usually signals big financings, but this fall the large follow-on offerings just have not materialized.

With the S&P/TSX up about 8 per cent since the start of September, you might think issuers would want to tap investors' thirst for equity returns in such a low interest rate environment. But the big deals just have not come to market.

More related to this story

That isn't to say there haven't been a few, like Crescent Point Energy Corp.'s $375-million bought deal, but there have only been a handful. Most deals have been in line deals from the past two days, which include Endeavour Silver Corp.'s $50-million bought offering, led by CIBC World Markets, and Altus Group Income Fund's $50-million bought deal of converts, co-led by BMO Nesbitt Burns and National Bank Financial.

Maybe companies are scared because this fall's bigger IPOs haven't fared all that well. Or maybe they simply have lots of cash piled up after hoarding it during the recession.

Follow on Twitter: @timkiladze

 

In the know

Most popular video »

Highlights

More from The Globe and Mail

Most Popular Stories