When the boom in SPACs took off in the United States, journalists kept asking TMX chief executive John McKenzie when Canada would join the party, Financial Review reports.
McKenzie laughed and said: “I had to remind them, we have been doing this for 30 years, we just haven’t been telling people about it.”
McKenzie is referring to what is arguably the world’s most successful program for allowing small companies to access the liquidity offered by a public stock exchange in a cost-effective way.
The TMX Group’s Capital Pool Company (CPC) program is a unique Canadian invention that supports earlier-stage private companies listing on the TSX Venture Exchange.
McKenzie says that unlike the senior Canadian market, which has had initial public offerings largely dry up this year, the CPC program has been going strong. Read more.
