Miners continue flocking to stock exchanges in Toronto to raise capital, accounting for 70% of company issuers and more than 50% of the C$15 billion equity raised in the year to 31 August 2024.
Of the 156 new listings on the TSX (103) and TSX-V (53) during the period, 39 were mining companies although exchange-traded funds (ETFs) accounted for 89 overall listings, while eight Special Purpose Acquisition Corporations (SPAC) and Capital Pool Companies (CPC) also listed.
The popularity of ETFs – a security that typically tracks a stock index or sector – has grown substantially over the past few years.
ETFs track a commodity, bond or a range of assets that are traded on the stock market, so buying an ETF means buying the shares of a portfolio that tracks the yield and return of its corresponding index or asset.
In September 2024, the TSX had 13 new issuers compared with 17 in August and 10 in September…
