The British Columbia Securities Commission released its Capital Market Report for 2018 (Report), which provides an overview of the enterprise economy in British Columbia (BC), detailing how much money was raised by companies and investment funds in the province, as well as how much was invested by BC residents, companies and other entities.
According to the Report, the number of BC-based companies listed on one of the Canadian stock exchanges grew 10% in 2018. The increase in listed BC companies was the biggest jump in Canada in 2018. BC has the most listed companies in Canada. However, the Report notes that they companies tend to be smaller, with nearly half having a market value below $5 million.
The Report states that much of the growth was driven by the cannabis industry, which raised $4 billion in 2018, up 280% from 2017. BC had 124 cannabis companies raising money in 2018, compared to 69 in 2017.
BC mining companies raised $4.3 billion in 2018, a 27% drop from 2017. However, mining remains the most active industry for capital-raising.
BC-based companies raised $19.1 billion in 2018, 27% more than in 2017. BC-based investment funds raised $18.5 billion, a 26% decrease.
According to the Report, overall investment in BC – including capital-raising by BC companies and investment funds, and capital invested by BC residents, companies and other entities – was relatively steady at $111 billion in 2018, compared to $112 billion in 2017.
You can view the Report here.
DISCLAIMER: This post is intended to convey general information about legal issues and developments as of the date above. It does not constitute legal advice and must not be treated or relied on as such.