BMO Takes Top Spot for Canadian IPOs in Dismal Year for Market

Bank of Montreal’s capital-markets unit was the top arranger of initial public offerings in Canada in 2022, eking out two significant deals in a year when plunging equity prices all but froze the market for companies seeking to sell shares for the first time.

Canadian companies undertook 112 IPOs with a total value of C$1.82 billion ($1.35 billion) last year. That’s down 85% from 2021’s record C$12 billion in deals. BMO Capital Markets, which handled two offerings with a total value of C$197.6 million last year, previously held the top spot on the Canadian IPO league tables in 2018. ...