06:45:29 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Canaccord Genuity Group Inc
Symbol CF
Shares Issued 102,011,831
Close 2015-04-14 C$ 6.92
Market Cap C$ 705,921,871
Recent Sedar Documents

Globe says RBC, Canaccord partake in Shopify's IPO

2015-04-16 08:14 ET - In the News

See In the News (C-RY) Royal Bank of Canada

The Globe and Mail reports in its Thursday edition the $100-million initial public offering of Shopify Inc. is expected to generate around $5-million in investment banking fees among six firms, including Royal Bank and Canaccord. The Globe's Niall McGee writes the commission rate is expected to be around 5 per cent on an IPO of this size. IPOs are generally among the most lucrative of functions investment banks perform. Lead bookrunners garner the bulk of the investment banking revenue (typically around 70 per cent), with the other underwriters on the syndicate splitting the remainder. RBC Dominion Securities is one of the three leads on the Shopify deal. Based on an expected commission rate of 5 per cent, RBC should make about $1.2-million on this transaction. American firms Morgan Stanley and Credit Suisse are the other co-leads. Canaccord Genuity Group is the other Canadian underwriter on the deal, co-managing with U.S. investment banks Pacific Crest Securities and Raymond James. RBC was also a lead on Cara Operations' recent $230-million IPO. The Globe notes RBC is currently in first place in equity underwriting among Canadian investment banks this year, with 22-per-cent market share.

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