There was only one sizable initial public offering of shares on the Toronto Stock Exchange in the fourth quarter, the $810-million IPO by Seven Generations Energy Ltd. (TSX:VII), according to a report by PwC.

The survey by the consulting firm says the offering in late October was the second-largest of 2014 — well behind the $1.4 billion IPO by PrairieSky Royalty Ltd. (TSX:PSK) in the second quarter.

Seven Generations — a Calgary-based oil and gas company — sold 45 million shares at $18 in the IPO plus a further 6.75 million to underwriters at the same price for total gross proceeds of $931.5 million.

Since the IPO was completed, the price of oil has plunged to 5 1/2-year lows — dragging down stocks in the oil and gas sector.

Seven Generation shares were down 87 cents at $16.72 in trading on the Toronto Stock Exchange on Monday, but have been worth between $14.39 and $24.70 in the weeks since trading began on Oct. 30.

For the full year, PwC says $3.5 billion was generated in 2014 through 14 Canadian IPOs — compared with $2.7 billion through 18 IPOs in 2013.