Advertisement

Follow Us On:

Stock And Awe: Gear Energy

Gear's October prospectus wasn't the typical public offering

Apr 22, 2014

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.

stockawe_story
Gear Energy’s not the only one to head straight to the market without an IPO
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
Postmedia, 2011
HQ: Toronto, ON
Symbol: TSX:PNC
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.
Related
Advertisement

Alberta Venture welcomes your comments. Please stay on topic and be respectful of other readers. Review our comments policy. If you see a typo or error on our site, report it to us. Please include a link to the story where you spotted the error.

Comments are closed.

Advertisement
Small Business
Small Business
Brought to you by ATB Financial
Venture 250
Venture 250
tiny thing
Business Person of the Year
In partnership with
Simpson & Associates and
MacPherson Leslie & Tyerman LLP
Alberta Oil
Alberta Oil
Magazine
Advertisement