TSX – Industrial & Technology Companies Listing Requirements
| Requirements | Profitable Companies | Technology Companies |
|---|---|---|
| Net Tangible Assets | C$2,000,000 | N/A |
| # of Public Board Lot Holders | 300 | 300 |
| Minimum Free Trading Public Float | 1,000,000 | 1,000,000 |
| Value of Free Trading Public Float | C$4,000,000 | C$10,000,000 |
What are the steps procedures required for a company to be listed on the Toronto Stock Exchange Venture?
To apply, companies must submit a TSX listing application and supporting documents such as the Personal Information Form. Resource companies must also submit geological reports in compliance with regulatory guidelines, as prepared by an independent and qualified third-party.
How do I list my business on TSX?
A company seeking to list on the TSX must meet specified minimum financial, distribution and other standards. A company must file a listing application together with supporting data to demonstrate that the company is capable of meeting these minimum listing requirements.
How often must a public company traded on the TSX prepare financial statements?
four times each year
In total, all public companies must prepare financial statements for external reporting purposes four times each year.
What is the minimum stock price for TSX?
When a company goes public, a reasonable percentage of the shares must be publicly owned and have a minimum market value of $4,000,000 for Toronto Stock Exchange and depending on the type of listing, $500,000 for Tier 1 and $1,000,000 for Tier 2 on TSX Venture Exchange. See Sector Summaries for further details.
What are the listing requirements for the NYSE?
To qualify for NYSE listing, a company must have at least 400 shareholders who own more than 100 shares of stock, have at least 1.1 million shares of publicly traded stock and have a market value of public shares of at least $40 million. The stock price must be at least $4 a share.
How much does it cost to list on TSX?
Initial costs
| Toronto Stock Exchange | TSX Venture Exchange | |
|---|---|---|
| Listing Fees | $10,000 – $200,000 | $7,500 – $40,000 |
| Accounting and Auditing Fees | $75,000 – $100,000 | $25,000 – $100,000 |
| Legal Fees | $400,000 – $750,000 | $75,000+ |
| Underwriters’ Commission | 4 – 6 % | Up to 12 % |
What is difference between TSX and TSXV?
Toronto Stock Exchange (TSX) is the biggest stock exchange of Canada while TSX Venture Exchange (TSXV) is the junior exchange. TSX focuses on senior issuers whereas TSXV focuses on venture capital and early-stage companies seeking funds for growth. Both exchanges are owned by the TMX group.
How does a company go from TSXV to TSX?
To graduate, TSXV-listed companies must first meet TSX listing requirements of their particular industry, then they submit an application, audited financial statements and recent quarterly statements for review by TSX.
What triggers a public company reporting obligation?
Companies are subject to public reporting requirements if they: Sell securities in a public offering (such as an initial public offering, or IPO; Allow their investor base to reach a certain size, which triggers public reporting obligations; OR. Voluntarily register with us.
What are the listing requirements of the TSX?
The attached chart set-out the listing requirements of the TSX for industrial, technology and life sciences companies which are referred to as research and development companies. We are always open to talk to corporate executives who are considering listing on the TSX.
How many analysts cover a company on the TSX?
Learn about the benefits of going public, the Canadian Markets and the four “R’s” if you are looking to access capital to fuel your company’s growth. On average, companies listed on TSX are covered by four analysts, whereas TSXV-listed companies are covered by one analyst
What are the requirements to be listed on the Toronto Stock Exchange?
They must also have a Toronto Stock Exchange participating organization sponsor their listing unless they meet the senior company listing criteria. All companies listed on the Toronto Stock Exchange must agree to abide by the corporate governance requirements of the exchange.
What are Tier 2 requirements for TSX Venture Exchange?
Tier Two companies are generally early stage or junior companies which the TSX Venture Exchange believes need a bit more guidance than Tier One companies. The two tables below set-out the listing requirements for Tier One and Tier Two of the TSX Venture Exchange (TSXV) for Industrial, Technology, Life Sciences, Real Estate and Investment Companies.
