Shortage of publicly traded Quebec companies: we want to hear your views on the issue
In general, a strong economy regularly produces new listings on the stock exchange. Currently, Quebec companies only account for 7%1 of the listings on the TMX Group’s stock exchanges, while the province represents 20%2 of Canada’s economy . What’s more, new Quebec listings have been decreasing year after year.
The number of new public offerings in the US has also declined. To counter this phenomenon, the US government approved the Jumpstart our Business Startups Act (or JOBS Act).
In response to this situation, the Order created an ad hoc working group, co-chaired by Claude Désy, lawyer, M. Fisc., FCPA, FCA, partner at McMillan, and by Sylvain Vincent, FCPA, FCA, Quebec managing partner at EY, to identify the causes of the decrease and propose possible solutions to the Quebec government.
If you would like to meet the working group and share your concerns or comments on the issue, please contact Claude Désy at firstname.lastname@example.org or by phone at 514 987.5074 by October 31, 2014.
1 MIG Report, TMX Group, December 2013.
2 Cirano report, “Le premier appel public à l’épargne et les sociétés québécoises : état de la situation,” September 2014, p.46.