BC mining financing dropped 40% in 2016
Corporate financing deals in mining, real estate and other major industries in B.C. were down last year compared with 2015.
In 2016, the largest corporate financing deals involving debt, bond and stock raised $2 billion less than in 2015. Total financing from the largest deals fell 14%.
However, the mining industry still received 29% of the province’s top-grossing corporate financing deals. While that was the largest share in 2016, it was down from 40% in 2015.
Financings in the telecom and real estate sectors also dropped significantly: to $790 million from $1.75 billion.
Real estate was down 77% to $230 million from $1 billion and accounted for only 2% of the money raised on the 2016 Top 100 Corporate Finance Deals list, down from 6% in 2015.
Telecommunication companies accounted for 6% of money raised in 2016.
Not all sectors had the same drop in financing; the provincial government was involved in 25% of the funds raised in the largest corporate financing deals, up from 19% in 2015.
The food sector also secured more corporate financing in 2016 ($190 million) compared with 2015 ($80 million)
Read full article: BIV