Reported 8 months ago
Stock offerings are on the rise in Canada's equity market except for the oil and gas sector, leading to investment banks scaling back their operations in Calgary. Stifel Financial Corp. and Raymond James have closed their offices due to the decline in oil and gas stock deals. With only 15 equity offerings in the energy sector totaling C$270 million, the sector faces a challenge in approaching last year's C$7.4 billion in equity issuance. The Canadian oil patch is experiencing a lack of merger and acquisition activities compared to the US, affecting investment banking in the energy industry.
Source: YAHOO