The Toronto market has seen an historic dry spell of IPOs and corporate listings in recent years as investors have preferred to invest in tech names to the detriment of old economy sectors like oil and gas, mining and banking. Those industries make up nearly two-thirds of the TSX, which is owned by TMX Group Ltd.
The last large foreign mining company to list on the TSX was Chile’s Aclara Resources Inc, which did an initial public offering in Dec. 2022. Before that, Australia’s Newcrest Mining Ltd. dual listed from the Australian Securities Exchange in Oct. 2020.
“It’s a really big win for us to be able to add this company to our listings,” said Dean McPherson, global head of mining and business development for TSX and TSX-Venture.
Toronto is home to dozens of larger miners including Nutrien Ltd. and Barrick Gold Corp. The materials sector makes up 12% of the S&P/TSX Composite Index.
McPherson traveled to Perth to pitch…
