The CPC program provides an alternative, two-step introduction to the capital markets by introducing investors with financial market experience to entrepreneurs whose growth and development-stage companies require capital and public company management expertise.
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I’m Megan Edwards for Investmentpitch Media
TSX Venture Exchange announced changes to its popular Capital Pool Company program, a unique listing vehicle exclusively offered by TSX Venture Exchange, which has accounted for almost 50% of its new listings in the past 10 years.
The CPC program provides an alternative, two-step introduction to the capital markets by introducing investors with financial market experience to entrepreneurs whose growth and development-stage companies require capital and public company management expertise.
Since its inception in 1986, there have been over 2,600 CPCs created and more than 2,200 qualifying transactions completed.
Former CPCs have raised over $75 billion in equity capital on TSX and TSX-V.
32% of currently listed TSX Venture Exchange grads are former CPCs.
TSX-V will be hosting virtual events on December 8 and 9, 2020 to review the key policy changes.
New changes to the policy will take effect on January 1, 2021 and will provide:
- Increased flexibility - new jurisdictions added, residency restrictions eased, spending restrictions simplified
- Reduced regulatory burden - relaxed requirements on shareholder distribution and shareholder approval, fewer restrictions on PRO subscriptions
- Improved economics - increased seed investment, finders fees, shorter escrow
For more information, please visit www.tsx.com/cpc.
Loui Anastasopoulos, President, Capital Formation, TMX Group, stated: "The CPC program is a unique, innovative go-public vehicle tailored to serve the needs of growth companies in all sectors and is the leading source of new listings on TSX Venture Exchange. We are proud of the program's long track record of success in expanding opportunities for companies to access public growth capital. As the Canadian financial landscape continues to evolve, we recognize the importance of working together with our clients and stakeholders to ensure the services and solutions we provide to enable success remain relevant. We thank our partners across the community for working with us to identify significant ways we can enhance the CPC program and make these important policy changes."
Based in Toronto, TMX Group operates offices across North America in Montréal, Calgary, Vancouver and New York, as well as in key international markets including London and Singapore.
TMX Group's key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, the Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, and Trayport which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community
TSX Group’s shares are trading at $127.50.
For more information on TMX Group, please visit the company’s website www.tmx.com.
I’m Megan Edwards for Investmentpitch Media
