The average size of the financings on the TSX Venture Exchange jumped 139% in the first six months of 2004 over the same period last year, with the mining sector leading the way, the junior exchange said Monday.
The TSXV said in a release that average financing as of June 30 was $1.96 million vs $820,000 at the same point in 2003.
As of June 30, 1,178 deals on TSXV raised a total of $2.3 billion, up almost 192% vs last year’s numbers of $790.1 million through 958 financing deals.
The mining sector raised a total of $1.4 billion in financings, accounting for 59% of the total), with the oil and gas sector second with $451.3 million (20% of the total) and technology third with $163.2 million raised (7% of the total).
The largest single financing was by South Atlantic Ventures Ltd., a Vancouver-based mining company, which raised $160 million through a public offering deal last month. EuroZinc Mining Corp., also of Vancouver, completed the next largest single financing year-to-date, raising $78.5 million through a private placement deal in April 2004.
The market capitalization for TSXV equities was $20.69 billion as of June 30, 2004, down 1.4% from May 2004, but up 74.5% from the same period last year.
The TSXV said nine companies jumped to the senior Toronto Stock Exchange in June 2004, bringing the total number of YTD graduates to 30.
Size of financings in first half 2004 jumps 139%: TSXV
Mining sector accounts for 59% of the total financing as of June 30
- By: IE Staff
- July 19, 2004 July 19, 2004
- 13:58