First Quantum Minerals Ltd. led the way with a C$1.55-billion share sale in February, followed by a C$431-million deal earlier that month consisting of new Capstone Copper Corp. shares and existing stock from a group of shareholders, data compiled by Bloomberg show.
Deals accelerated in April, with 58 deals raising a total of C$1.6 billion, up from 21 deals for just C$556 million in the same month a year earlier.
“While 2024 had a quieter start, Canadian equity issuance has improved this spring, with momentum continuing thus far in May,” said Michelle Khalili, Scotiabank managing director and global head, equity capital markets. She sees growing confidence and the timing of interest rate cuts as driving a further acceleration in the pace of share issuance for the balance of the year.
The bump higher in stock sales has largely been driven by mining companies. Miners have dominated financings on the Toronto Stock Exchange and…
