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Paladin Energy Ltd.’s arrival in Canada marks the first time since 2022 that a large foreign mining company will list its shares on the Toronto Stock Exchange, where new corporate listings have slowed to a crawl.
Paladin, a Western Australia-based uranium producer, struck a $1.14-billion deal to acquire Fission Uranium Corp. in June, which it expects to close in August. Paladin’s planned Toronto listing is part of an effort to secure approval for the transaction and also gain access to a larger shareholder base.
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The Toronto market has had an historic dry spell of initial public offerings (IPOs) and corporate listings in recent years as investors have preferred to invest in tech names to the detriment of old economy sectors such as 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…
