Stock And Awe: Gear Energy
Gear's October prospectus wasn't the typical public offering
Back in August, Calgary-based heavy oil producer Gear Energy was hinting at an IPO. But when the company announced the filing of its prospectus in October, it wasn’t the typical public offering. That’s because the company decided to forego the traditional IPO and list its shares on the TSX with a minimum of fanfare, and without raising a single penny.’
Why? According to CEO Ingram Gillmore, they didn’t need the money and didn’t want to dilute the shares of their existing shareholders.
|Caracal Energy, 2013
HQ: Calgary, AB
Symbol: LSE: CRCL
Caracal (formerly Griffiths Energy) went public after receiving a $10-million fine for attempting to bribe an official in Chad and opted to skip the IPO
HQ: Toronto, ON
While coming out of bankruptcy, Postmedia agreed that it would go public. Investors weren’t really excited by the ailing company, so it did so with a minimum of fuss, heading directly to the TSX.