Miners are increasingly turning to the Toronto Stock Exchange to raise capital, with a significant portion of new listings coming from the mining sector. In the year leading up to August 31, 2024, mining companies represented 70% of issuers and over 50% of the equity raised, totaling C$15 billion. While mining companies made up a substantial portion of new listings, exchange-traded funds (ETFs) also played a significant role, with 89 overall listings.
ETFs have seen a surge in popularity in recent years, offering investors a way to track stock indices or sectors. These securities provide exposure to various assets traded on the stock market, allowing investors to buy shares in a portfolio that mirrors the performance of a specific index or asset.
In September 2024, the TSX welcomed 13 new issuers, including 12 ETFs and a utilities and pipelines company. This marked a slight decrease from the previous month but showed a steady flow of new listings. However, total financings saw a notable decline compared to the previous year, reflecting fluctuations in the market.
The TSX has a long history, dating back to its founding in 1861 when it initially listed 18 stocks. Over the years, it has evolved into a national exchange for senior equities, with a diverse range of companies now listed on its platform. As of December 31, 2023, there were 244 international companies listed on the TSX and TSX-V, with a significant presence from the US, Australia, New Zealand, and Papua New Guinea.
TMX Group, headquartered in Toronto, has grown to become an integrated exchange group offering a range of services across different asset classes. Its subsidiaries operate cash and derivative markets, as well as clearinghouses for equities, fixed income, and energy products. This evolution underscores the exchange’s role in providing essential services and data products to the global financial community.
The TSX-V, a subsidiary of TMX Group, also saw new issuers in September, with mining, technology, and oil and gas companies among the listings. Despite fluctuations in total financings, the TSX-V has remained a platform for emerging companies to access capital and grow their businesses.
Overall, the trend of miners flocking to Toronto exchanges reflects the attractiveness of these platforms for companies seeking capital and investors looking for opportunities in the mining sector. The diverse range of listings and the growing popularity of ETFs highlight the dynamic nature of the Toronto Stock Exchange and its role in the global financial landscape.
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