“The proposed amendments seek to increase predictability and transparency in the listing process by reducing the need for discretionary waivers and exemptions, thereby reducing issuer burden, while maintaining sound requirements to protect the quality of our market,” the paper said.
The exchange concluded that subcategorizing industrial issuers by business sector within the category “creates needless complexity and appears out of date” relative to rival exchanges.
Instead, the TSX is creating new listing categories based on the stage of the business, including new ventures, pre-income businesses, and senior issuers. Senior issuers are defined as those with at least $10 million in audited annual revenue, $750,000 in pre-tax income or a market cap of at least $100 million.
For mining companies, the TSX said the exchange has “a long and successful track record” of listing mining issuers. As such, it’s aiming…
