Genworth, Magma close IPOs in Canada capital push

* Genworth closes biggest IPO since 2007

* Canada IPO market emerging from drought

* PwC survey shows activity picking up

By Pav Jordan

TORONTO, July 7 (Reuters) - Canadian companies raised at least C$950 million ($819 million) in two initial public offerings that closed on Tuesday, potentially signaling an end to a long dry spell in IPO activity in the Canadian marketplace.

Genworth MI Canada Inc (MIC.TO), a private home mortgage insurer, closed an IPO worth at least C$850 million, the largest in Canada since Franco-Nevada Corp (FNV.TO) raised C$1.3 billion in a 2007 offering.

The company, a unit of Richmond, Virginia-based Genworth Financial Inc, said it sold 44.7 million shares at C$19 each in a transaction co-led by bookrunners CIBC World Markets Inc, Goldman Sachs Canada Inc and Scotia Capital Inc.

It could raise another C$127 million if an over-allotment option to buy up to 6.7 million additional common shares, is exercised in full by an Aug. 6 close.

Genworth MI shares were up 1.05 percent at C$19.27 on Tuesday morning on the Toronto Stock Exchange.