The 51st State? Canada Offers a Home-Away-From-Home for US IPOs

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2011 Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada, Thomson Reuters Canada Limited
December 20, 2010

As commerce between Canada and the US has become increasingly integrated, so too has the flow of capital. Cross-border investments by institutional and retail investors have long been the norm, but when it came to public financings, the direction of cross-border capital formation occurred primarily in one direction — south. Canadian companies traditionally have looked to the US public markets as an important option in obtaining necessary growth capital. In contrast, US companies typically did not consider Canadian capital markets as a viable alternative. That has changed. In the past five years it appears US businesses and their advisors have discovered the value proposition presented by Canada's public markets.