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The MiG Report - TSX, TSX Venture Exchange - 2017: A Strong Year For New Corporate Listings

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In 2017, Toronto Stock Exchange and TSX Venture Exchange welcomed 127 new corporate listings, including:
  • 55 mining companies
  • 35 technology/innovation companies
  • 30 companies within diversified industries 
Strong year for IPOs
  • 28 corporate IPOs on Toronto Stock Exchange and TSX Venture Exchange represented a 600% year-over-year increase.
  • The amount of equity capital raised in corporate IPOs was up in 2017, at $5.8 billion, compared with $1.3 billion in 2016 -- up 367%.

International and dual listings
Of the new corporate listings, 17 were international, including:
  • five new issuers from the U.S.
  • five new issuers from Australia
  • two new issuers from Brazil
These companies were from a variety of sectors -- mining, technology/innovation and diversified industries. Brazilian company Nexa Resources S.A. raised over $730 million in its IPO debut on Toronto Stock Exchange (TSX: NEXA), and was the largest mining IPO globally in 2017.

We welcomed six international issuers that added a Toronto Stock Exchange or TSX Venture Exchange listing in 2017:
  • three from the Australian Securities Exchange
  • two from AIM
  • one from NYSE
History in the making
The aggregate market capitalization of Toronto Stock Exchange and TSX Venture Exchange issuers reached the highest in the exchanges' history -- $3.0 trillion-- an increase of 9% year over year, and up 38% over the past five years.

The first Qualifying Acquisitions (QA) in the history of Toronto Stock Exchange were completed in 2017. Beginning with Acasta Enterprises Inc. (TSX: AEF), three more SPACs completed their QAs in 2017.

Global leader
Lastly, the strength and unique qualities of our two-tiered market system were on display in 2017 as 15 companies graduated from TSX Venture Exchange to Toronto Stock Exchange. Among the 2017 graduates were five companies that ended the year with market values over $500 million.

For more insights and market data click here to view the MiG Report.

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