Home / Business and Economy / Canadian Pharma Giant Seeks $1 Billion IPO
Canadian Pharma Giant Seeks $1 Billion IPO
24 Feb
Summary
- Apotex is planning an IPO potentially raising up to C$1 billion.
- The company was sold in 2023 to SK Capital Partners.
- The IPO could be Canada's largest debut since November 2021.
Apotex Inc., a prominent Canadian generic drug maker, is reportedly targeting the first half of 2026 for an initial public offering (IPO) on the Toronto Stock Exchange. The company anticipates raising between C$750 million and C$1 billion, with the upper end of this range potentially making it the largest Canadian new listing since Definity Financial Corp.'s C$1.6 billion offering in November 2021.
Sources familiar with the matter indicate that RBC Capital Markets, Jefferies Financial Group, and TD Securities are advising Apotex on this transaction. While these plans are still under consideration and subject to change, no final decisions have been made regarding the exact timing or scale of the offering. Apotex, founded in 1974 by Barry Sherman, was acquired by New York-based SK Capital Partners in 2023 for a valuation between C$3 billion and C$4 billion.
This potential offering follows other Canadian companies testing the market, such as AGT Food and Ingredients Inc., which is expected to raise up to C$460 million in its own IPO. The planned Apotex IPO underscores a growing trend of significant market debuts in Canada.
