The electronic ticker display outside the Toronto Stock Exchange Tower in Toronto, on Jan. 24, 2022.Christopher Katsarov/The Globe and Mail
Stephen Pincus and Brad Ross are partners at law firm Goodmans LLP.
The trade war with the U.S. has drawn Canadians’ attention to the need to strengthen our economy and make it less reliant on others. That cannot be done without fixing our broken capital markets.
During the past 20 years, the number of operating companies listed on the Toronto Stock Exchange has dropped by more than 35 per cent. Over that period, the three-year average number of TSX operating company IPOs has dropped from 40 to less than two per year, and the average amount raised on those IPOs has dropped from $3.5-billion to less than $1-billion per year. The decline is stunning.
This is a major problem for Canada’s businesses and our economy as a whole. It also directly harms Canadian families and…
