Canadian Drugmaker Apotex Seeks Up to $730 Million in First-Half IPO

Canadian generic drug manufacturer Apotex Inc. is looking at the first half of the year for an initial public offering in Toronto that could raise as much as C$1 billion ($730 million), according to people familiar with the matter.Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Canadian generic drug manufacturer Apotex Inc. is looking at the first half of the year for an initial public offering in Toronto that could raise as much as C$1 billion ($730 million), according to people familiar with the matter.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.An IPO of that size would be Canada’s largest debut since 2021. RBC Capital Markets, Jefferies Financial Group and TD Securities are advising on the transaction, people familiar with the offering have said.No final decisions have been made on the exact timing or size of the offering, and the plans may still change, the people said, asking not to be identified discussing private information. Spokespeople for Jefferies, RBC and TD declined to comment, while a representative for Apotex didn’t respond to requests for comment. Apotex was founded in 1974 by Barry Sherman, who built the company into one of the world’s largest manufacturers of generic drugs. Sherman and his wife, Honey Sherman, were found dead in their Toronto home in December 2017 in what police described as a double homicide. The case remains unsolved.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.The company was sold in 2023 to New York-based SK Capital Partners, a life-sciences focused investment firm, in a transaction that valued Apotex at between C$3 billion and C$4 billion, people with knowledge of the deal previously told Bloomberg Businessweek.The potential offering comes as other Canadian companies test the market. Saskatchewan’s AGT Food and Ingredients Inc. is expected to be among the first sizable listings this year. The agribusiness and some of its shareholders are seeking to raise as much as C$460 million in an IPO.Apotex is considering an offering that would raise C$750 million to C$1 billion, the people said. At the top of the range, it would be the biggest Canadian new listing since Definity Financial Corp. raised about C$1.6 billion in November 2021. Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2026 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.