Initial public offerings (IPOs) can be a risky investment; thus, in an IPO, the issuer may obtain the assistance of an underwriting firm. Shown below is a list of the top 10 Canadian underwriting firms in 2001.
Underwriting Firm Amount ($ millions)
CIBC World markets 909
RBC Capital Markets 580
Scotia Capital 551
National Bank Financial 519
BMO Nesbitt Burns 509
Merrill Lynch & Co 508
TD Securities 482
Raymond James 362
HSBC Securities 355
Canaccord Capital 340
Source: National Post Business Magazine, Sinclair Stewart, "2001: Year of the Infrequent Public Offering"