Apotex Health Corp launches $1 billion IPO on June 1, 2026
Apotex Health Corp launched its initial public offering on June 1, 2026, and began a roadshow after filing an amended and restated preliminary base PREP prospectus. The deal is sized to raise about $1 billion, with the company aiming to convert the filing into a public market sale through a mix of new shares and resale stock.
Apotex Health Corp's $1 billion deal
41,666,671 to 50,000,006 common shares are expected to be sold at $20.00 to $24.00 each, setting the gross proceeds target at approximately $1 billion. For buyers, the range defines the opening pricing band; for the company, it establishes the size of the transaction before the final share count is set.
35,416,666 to 42,500,000 of those shares are expected to come from a treasury offering, which is projected to generate about $850 million for Apotex. That leaves 6,250,005 to 7,500,006 shares for certain shareholders in a secondary offering expected to produce about $150 million for the selling holders.
RBC, TD and Scotiabank
RBC Capital Markets, TD Securities Inc. and Scotiabank are serving as co-lead managers, joint global coordinators and joint lead bookrunners. BMO Capital Markets and Jefferies Securities, Inc. are joint bookrunners, while CIBC Capital Markets, ATB Cormark Capital Markets, Desjardins Capital Markets, National Bank Capital Markets, MUFG, Raymond James, Bloom Burton Securities Inc., Canaccord Genuity Corp., Stifel and Paradigm Capital Inc. are co-managers.
Goodmans LLP is acting as Canadian legal counsel to Apotex, and Stikeman Elliott LLP is acting as Canadian legal counsel to the underwriters. Kirkland & Ellis LLP is acting as US legal counsel to Apotex, while Skadden, Arps, Slate, Meagher & Flom LLP is acting as US legal counsel to the underwriters.
30 days after closing
The selling shareholders are expected to grant the underwriters an over-allotment option for up to an additional 6,250,000 to 7,500,000 common shares, exercisable until 30 days after the closing date of the offering. That extra allotment can expand the size of the deal after pricing, which leaves the final float and proceeds dependent on demand during the bookbuild.
The offering follows a previously disclosed initial public offering, and the prospectus remains subject to amendment and completion. Copies of the amended and restated preliminary prospectus are to be available on SEDAR+.
