The Globe and Mail reports in its Tuesday edition that the song Zombie by the Cranberries had just been released the last time Canada's market for initial public offerings of stock had a year as bad as 2023. The Globe's Jameson Berkow writes that with Lithium Royalty being the only IPO of note this past year, a recent Bank of Nova Scotia report declared this has been Canada's "worst year since at least 1994." Almost three decades later, Zombie could reasonably express the current state of the Canadian IPO market. However, the national outlook for IPOs in 2024 can perhaps best be expressed by the title of another popular song from 1994: Green Day's When I Come Around. Companies that had wanted to go public in 2023, or even earlier, have started rebuilding their IPO plans. The increasing number of equity financing transactions over the past few weeks is another encouraging sign for the IPO market. In December, for example, Ivanhoe Mines completed a $575-million private placement, Pembina Pipeline closed a bought deal worth nearly $1.3-billion and Boardwalk REIT raised nearly $251-million in its own bought deal. The Boardwalk transaction included a full exercise of an overallotment option, showing strong investor demand.