Canada energy IPOs tough sell even as institutions return to sector

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Canada energy IPOs tough sell even as institutions return to sector
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Canada energy IPOs tough sell even as institutions return to sector. miningnews

Last month, it unveiled plans to spin off its Canadian oil sands assets into a new publicly traded company, which surprised many industry watchers.The next day, Teck Resources said it was also considering a spin-off of its Fort Hills oil sands project, in which it is a part-owner with TotalEnergies and Suncor Energy.

McCrea expects the recent trend of takeovers of private Canadian oil companies by larger companies to continue rather than the IPO route. Despite the caution around IPOs, energy and power companies had the greatest share of issuance in the first nine months of 2022, with C$3 billion worth of secondary offering according to data from Refinitv.

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