- The TSX Venture Exchange is accelerating the launch of its new junior market exchange – the Venture Forward
- The TMX Group is evaluating the need and appetite for a new, highly differentiated exchange to complement TSX Venture
- The Venture Forward would aim to give newer companies a more streamlined and cheaper means to a public listing
- The new exchange intends to embrace a digital transformation, offering more access to digital products, while redesigning the processes for approving new listings, reverse takeovers, and other services and resources
The TSX Venture Exchange is accelerating the launch of its new junior market exchange – the Venture Forward.
The TMX Group is evaluating the need and appetite for a new, highly differentiated exchange to complement TSX Venture, with the goal of providing new categories of early-stage companies, alternative asset classes, and investors with access to public markets.
As means to provide more choice for those seeking to raise capital, the Venture Forward would aim to give newer companies a more streamlined and cheaper means to a public listing. The Exchange will also have a “passport listing process” with more process transparency to expedite listings for companies with a minimum pre-listing valuation of C$50 million and at least C$10 million in arm’s length financing.
The new exchange intends to embrace a digital transformation, offering more access to digital products, while redesigning the processes for approving new listings, reverse takeovers, and other services and resources.
It also plans to launch the “TSX V Sandbox,” an initiative to encourage innovation and provide support for listing unique businesses or transaction structures.
Loui Anastasopoulos, CEO, Toronto Stock Exchange and Global Head, Capital Formation, TMX Group, said the Venture Forward intends to address near-term stakeholder challenges and build Canada’s vibrant and vital public venture market so it’s stronger for the future.
“Venture Forward is a key component of our ongoing strategy to push the evolution of our unique and powerful capital formation ecosystem, serve the needs of modern stakeholders, and sharpen our competitive edge in an increasingly borderless capital market landscape,” Anastasopoulos said.
Full details are available in a new report published by the TMX group outlining the plan, which is available to read here.
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