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Bank of Montreal
Symbol BMO
Shares Issued 647,470,963
Close 2021-07-07 C$ 126.84
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Globe says BMO takes top spot in Q2 IPO race

2021-07-08 07:37 ET - In the News

The Globe and Mail reports in its Thursday edition that some of Canada's top deal-makers are expecting the current strong momentum in initial public offerings and equity financings to continue through the typically slow summer season, fuelled by low interest rates and increasingly frothy markets. The Globe's Vanmala Subramaniam writes that already 2021 has been a banner year for deal-making on Bay Street, with a record number of IPOs, equity and debt raises, as well as a slew of large mergers and acquisitions. The second quarter numbers released by Refinitiv show companies raised about $12.7-billion through 143 deals, the best second quarter since 2017. Equity financings topped the $20-billion mark in the first three months of 2021, the highest quarterly amount raised since the third quarter of 2015. Canadian IPOs generated gains of $3.1-billion to investors in the second quarter. The investment dealers of the Big Five Canadian banks dominated the underwriting of IPOs and equity financings. BMO Capital Markets grabbed the top spot for Canadian equity sales and IPOs. Bank of Montreal's Peter Miller said that there are still many IPOs in the bank's pipeline beyond the currently popular technology industry.

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