January 27, 2015
On January 22, 2015, the Toronto Stock Exchange (the TSX) published proposed amendments to modify, expand and formalize certain exemptions available to interlisted issuers (the Amendments) in the TSX Company Manual (the Manual). The Amendments provide for public interest changes in Parts IV (Maintaining a Listing – General Requirements) and VI (Changes in Capital Structure of Listed Issuers) of the Manual, as well as certain ancillary changes that would allow the TSX to defer to other exchanges or jurisdictions for an expanded number of transactions as well as for certain corporate governance matters for interlisted issuers.
Interlisted Issuers on the TSX
According to the TSX, there were 332 interlisted issuers on the TSX as at November 30, 2014. The vast majority of these issuers (273 or 82%) are incorporated in Canada, while the remaining 59 (or 18%) are foreign incorporated. Also according to the TSX, 22% of the Canadian-based interlisted issuers and 46% of...
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