The value of Canadian equities issued in the first half of 2017 declined, although the number of deals rose, according to new data from Thomson Reuters.

Equity issuance in the first six months of this year totalled $26.9 billion, from 214 issues, Thomson Reuters reports.

Total proceeds declined by 7.6% from the same period in 2016, yet the number of deals surged by 39.9% year over year.

On a quarter-over-quarter basis, equity underwriting proceeds rose by 11.3% in the second quarter. Yet, the number of issues decreased by 16.4% from the first quarter.

Secondary offerings generated $22.1 billion from 186 deals in the first half, Thomson Reuters reports; $3.9 billion worth of preferred securities were issued during the period.

The energy and power sector generated over half (52%) of the overall equity proceeds, followed by the materials sector at 11%, and real estate with a 9% market share, Thomson Reuters reports.

As for the equity underwriting league tables, the top firm in the first half was RBC Capital Markets, which led the way in Canadian equity, common stock, initial public offerings, and secondary offerings.

Scotia ranked first in retail structured product issuance, and BMO Capital Markets led in preferred securities.

Debt issuance rose by 16% during the first half, Thomson Reuters report, for total proceeds of $94.6 billion.

In the second quarter, proceeds were up by 23.3% from the prior quarter.

Government and agency debt accounted for almost half (47%) of overall issuance during the first six months. Financials ranked second at 33%, followed by the energy and power sector at 10%.

Among underwriters, TD Securities came first in the overall debt rankings. It was also first in corporate Maple debt. RBC ranked first in corporate debt, National Bank Financial led in government debt, and BofA Merrill Lynch was first in cross border transactions.