The Globe and Mail reports in its Saturday edition that after a long drought, initial public offerings are back in Canada, with more than $2-billion worth of new shares sold since March. The Globe's Tim Kiladze writes that the resurgence of deals is good for the Toronto Stock Exchange, which has been losing listings to takeovers. The stock market returns for recent Canadian IPOs is rather mixed. This week, the country's largest drug manufacturer, Apotex Health, priced its long-awaited IPO, and the deal size was increased to $1.3-billion from $1-billion because of heavy investor demand. The company's shares were initially sold at $24 apiece, and they are already up 21 per cent since they started trading on Wednesday. That's a win. Yet two sizable IPOs that came before Apotex have struggled since they started trading. Shares of Lumina Metals, which raised $406-million in April, are down 11 per cent since listing, and shares of AGT Food, which raised $450-million from public investors in March, are down 24 per cent. Hedge funds have multiplied in number and bankers say they are keen to participate in IPOs. They are happy to try for a 10-per-cent gain in a matter of days, sell, and do it all over again in a different deal.