Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeInvestorApotex, backers raise $1.3 billion in IPO priced at topThe Canadian generic drug manufacturer priced its IPO at $24 per shareAuthor of the article:Last updated 1 hour ago You can save this article by registering for free here. Or sign-in if you have an account.Apotex headquarters at Steinway Blvd. and Steeles Ave. West in northwest Etobicoke on April 22, 2021. Photo by Jack Boland/Toronto Sun/Postmedia NetworkApotex Health Corp. and some of its backers raised $1.3 billion in a Toronto initial public offering, the country’s largest since 2021.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe Canadian generic drug manufacturer priced its IPO at $24 per share, the high end of the $20 to $24 range, according to a statement Tuesday confirming an earlier Bloomberg News report. Apotex sold 35.4 million shares and the selling holders divested about 18.8 million shares, after increasing the number of shares in the offering on Monday.The IPO is Canada’s largest since 2021, data compiled by Bloomberg show. Listings in the country have slowed significantly since a peak of 77 that year, and delistings and take-privates have outpaced new offerings, causing the number of public companies to shrink for the fourth consecutive year in 2025.Canada's best source for investing news, analysis and insight.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 Investor will soon be in your inbox.We encountered an issue signing you up. Please try againApotex 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.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 $3 billion to $4 billion, people with knowledge of the deal previously told Bloomberg Businessweek.Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal and Jefferies Financial Group Inc. were among the banks that worked on the offering.The shares are expected to trade on the Toronto Stock Exchange under the symbol APTX. Join the Conversation 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.