Canadian IPOs surged 50 in 2013 to raise 27 billion

TORONTO — PricewaterhouseCoopers says there was about $2.7 billion raised through Canadian initial public offerings last year — a 50% increase from 2012.The accounting and consulting firm says there were a total of 30 IPOs on all Canadian exchanges in 2013, including six in the fourth quarter that raised $582.6 million on the Toronto Stock Exchange and TSX Venture Exchange.In 2012, there were 62 issuers that went public but they raised only about $1.8 billion, including 23 in the fourth quarter that raised $1.3 billion.IPOs enable businesses to raise money by selling shares or other types of equity that will be listed and traded through a stock exchange.Investors who buy into the business through the IPO will reap a profit if they sell the stock at a higher price, or a loss if the price goes down.Among the most notable Canadian IPOs in the fourth quarter were Canadian Tire’s real estate spinoff, which began trading in October. CT Real Estate Investment Trust began trading at $10.01 on Oct. 23 and closed the year at $10.92 on Dec. 31. read more

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Twins Cron agree to 48 million 1year contract

MINNEAPOLIS — The Minnesota Twins and first baseman C.J. Cron have agreed on a $4.8 million, one-year contract to avoid salary arbitration.Cron was claimed off waivers from the Tampa Bay Rays this week after hitting a career-high 30 home runs with an .816 OPS.The deal was reached Friday, when the Twins also decided not to offer a contract to outfielder Robbie Grossman, who becomes a free agent.All other unsigned players were tendered contracts for 2019, including eight others eligible for arbitration: starting pitchers Kyle Gibson and Jake Odorizzi, outfielders Byron Buxton, Max Kepler and Eddie Rosario, third baseman Miguel Sano and relief pitchers Trevor May and Taylor Rogers. Proposed salaries are exchanged Jan. 11 between teams and arbitration-eligible players who haven’t already agreed to deals.___More AP baseball coverage: https://apnews.com/MLB and https://twitter.com/AP_SportsThe Associated Press read more

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