Canada's largest IPO in a decade: Athabasca Oil Sands

From MarketWatch:


Athabasca Oil Sands Corp. makes its stock debut on Thursday in Canada after the producer of petroleum from Alberta raised nearly $1.4 billion as the richest Canadian IPO since 1999.


Not only is the Canadian dollar at parity with the U.S. greenback for the first time since 2008, but the Great White North appears ready to float the biggest stock offering so far this year in North America.

Athabasca Oil Sands will trade under the stock symbol ATH on the Toronto stock market. Its shares won't trade on any U.S. exchange.

On March 30, Athabasca said it sold 75 million shares, or a 19% at C$18 each, raising C$1.35 billion. With about 400 million shares outstanding after the IPO, Athabasca Oil Sands will carry a market cap of C$7.2 billion.

The IPO ranks as the richest from Canada since Manulife Financial Corp. raised C$2.48 billion in 1999, according to data compiled by Bloomberg.

Santana Technologies priced 31.6 million shares at $18 a share for proceeds of $569 million on March 19 as the richest American IPO so far this year, said John Fitzgibbon of IPOScoop.com.

Visa Inc. priced 406 million shares at $44 each raising $17 billion as the richest IPO in U.S. history in 2008.


Numbers aren't adjusted for inflation so the IPO isn't as large as some of the ones from a few decades ago.

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