Innovation companies are making a stronger presence on the public markets in Canada.
According to a new release from the TMX Group, of which the Toronto Stock Exchange (TSX) is a subsidiary, innovation market value grew by 50 percent on the TSX and the TSX Venture Exchange (TSXV) last year.
TSX and TSXV welcomed 31 new listings in the sector in 2013. The top 50 innovation issuers, ranked by market capitalization, had an average share price appreciation of 69 percent. More than 65 percent of these companies saw their share price increase by over 20 percent.
“Our technology, clean technology and life sciences issuers have demonstrated sustained growth over the past year,” said Ungad Chadda, senior vice president of the TSX. “We are proud to have welcomed issuers from around the world in 2013, including seven from the U.S., one from Israel and one from Australia.”
In 2013, innovation companies raised $6 billion of new equity capital through a total of 280 financing transactions. Nearly 400 innovation companies are listed on TSX and TSXV with a combined market capitalization of over $135 billion, as at December 31, 2013.
The Exchanges sponsored the inaugural Cantech Investment Conference and Awards held yesterday in Toronto. Cantech also runs a technology news site, the Cantech Letter.
The awards recognize excellence in Canadian technology, clean technology and life sciences stocks and are voted on by a panel of Canadian equity analysts. To celebrate the awards, Cantech Letter’s founding editor Nick Waddell will join Mr. Chadda and the award winners to open trading this morning at 9:30 a.m. ET.