The Canadian Press

There’s been a revival of IPO activity on the Toronto Stock Exchange, according to a study by PricewaterhouseCoopers.

Four companies made initial public offerings on Canada’s main stock market in the first three months of 2010 — equalling the number of IPOs for all of 2009.

In the first quarter of 2009, when the Canadian and global economies were deep in recession, there were no IPOs made on the TSX.

In contrast, the four IPOs so far this year generated $442.7 million for the companies that began selling their shares to the public market, and represented most of the $464.6 million raised in all Canadian exchanges during the quarter.

PricewaterhouseCoopers says another 12 IPOs were made on the TSX Venture Exchange and other exchanges in the first quarter, representing $21.9 million.

PwC’s Neil Manji says the latest results mark a “significant reversal from the drought-like conditions of the past two years.”

He says a number of companies that might have deferred IPO plans because of the credit crisis may reconsider making an initial public offering in the coming months.