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Companies are delisting from TSX at more than one per week

Source: Lexpert Other Articles

Companies are delisting from TSX at more than one per week




More public companies are delisting from the Toronto Stock Exchange due to the costs and regulatory burdens. REUTERS/Mark Blinch THERE ARE THREE special shareholders meetings worth paying attention to this week: at Canam Group Inc., Lumenpulse Inc. and Mood Media, where stockholders are being asked to approve transactions that may result in these companies disappearing from the Toronto Stock Exchange. Close to 70 companies, funds and trusts have delisted from the TSX in the past 12 months, and that doesn’t include instances in which two Canadian public companies joined with just one listing maintained. So what gives? In its monthly public reports the TSX generally attributes a delisting to a failure to meet continued listing requirement, owing to an unsatisfactory financial status, for example; a request by the company itself; or a completed plan of arrangement, which may mean an acquisition by private equity, a numbered company, a foreign buyer…



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