STORY CONTINUES BELOW THESE SALTWIRE VIDEOSTORONTO - Canada's main stock exchange operator, TMX Group, is urging companies seeking to list on its platform to accelerate their plans, a top exchange official said, citing an uncertain economy and next year's U.S. presidential election as factors shrinking the window of opportunity.
The TMX is a destination for small to medium global energy and mining companies to raise equity, with close to 50% of index dominated by those two sectors. Dean McPherson, head of TMX Global Mining, told Reuters on Tuesday that macro issues such as inflation and the Ukraine-Russia war are keeping capital on the sidelines, while the U.S. presidential election in 2024 should add to the uncertainty.
McPherson said TMX has advised companies seeking to list that the"window of opportunity" for initial public offerings, when it opens, might be a short window of three to six months rather than a year. "There is a pipeline out there that's waiting for the right time to enter the market," McPherson said."And our advice to those companies is it's best to not just wait but have your entire ducks in a row if you will, so the when the window of opportunity opens, you don't have to start from scratch.