| NEW YORK
NEW YORK Jan 5 The value of Canadian equity
issues rose to an all-time high in 2016, driven by large deals
in the energy and mining sectors, according to Thomson Reuters
data released on Thursday.
Equity issues increased nearly 19 percent last year to
C$51.2 billion ($38.56 billion) from C$43.1 billion in 2015, the
figures showed. That broke the previous high of C$49.4 billion
The top six advisers for the year were Toronto Dominion Bank
, Royal Bank of Canada, Bank of Montreal
, Canadian Imperial Bank of Commerce, Bank of
Nova Scotia and National Bank of Canada.
The biggest transactions of the year were TransCanada's
raising of C$4.4 billion and C$3.5 billion,
respectively, in two deals to help fund its acquisition of
Columbia Pipeline, and Suncor Energy's C$2.9 billion
The trend of an increasing number of large deals spilled
over from 2015 into 2016.
"If 2015 was the year of the big deals, this was the year of
the mega deals," said Peter Miller, head of Canadian equity
capital markets at BMO Capital Markets.
The year also signaled a "reopening of the mining market,"
Mining transactions in the period included Franco-Nevada
Corp's C$1.3 billion capital raise and Silver Wheaton
Corp's C$820 million offering.
"Billion-dollar deals used to be a rarity. Now they're
starting to come with regularity," said Tyler Swan, head of
execution, equity capital markets, at CIBC.
Initial public offerings were in short supply in 2016, with
retailer Aritzia Inc's foray one of the few issues to
hit the Canadian market last year.
"A rebound in IPOs will be the story of 2017," Swan said. He
sees initial public offerings in sectors such as technology,
retail, energy and power.
($1 = 1.3279 Canadian dollars)
(Reporting by John Tilak; Editing by Peter Cooney)