The Canadian Securities Exchange (CSE) confirmed encouraging signs of life on the growth companies market in the month of June, rounding off what chief executive Richard Carleton described as a “highly successful” first half.
June saw the completion of 87 financings on the exchange, with a total of US$176 million raised for securities during the month. It included eight new listings, plus a reboot of an already listed issuer.
At the end of June, the CSE was host to 835 listed securities.
"The first half of 2023 was another highly successful period for the Canadian Securities Exchange," said Richard Carleton, CEO of the CSE in a statement.
"We welcomed 51 new corporate listings to the exchange [in the first half], and our issuers completed 470 financings.
“We were also delighted to announce that the Canadian Investment Regulatory Organization has granted margin eligibility for all CSE-listed securities, a significant development for our market.”
“Additionally, we received regulatory approval for the launch of a Senior Tier, aimed at larger and later-stage companies, opening new opportunities for both issuers and investors.
“We have further exciting initiatives in our pipeline that will bring value to the investment community, including the anticipated launch of our new website this summer," he added.
In the secondary market, meanwhile, CSE-listed securities were involved in US$394 million of market trades, across 1.28 billion shares.
Since the end of the period, in July, the CSE celebrated what it highlighted was a major milestone as Urbana Corporation became the first issuer on the exchange to be listed in the newly debuted ‘senior tier’.
The CSE, in its statement, said that the Senior Tier is expected to attract more engagement with institutional investors that could not trade CSE 'Venture Issuer' securities and that securities listed on the Senior Tier may be included in stock indices that 'Venture Issuer' securities were previously excluded.
The exchange operator added that it is optimistic about adding more securities to the Senior Tier in the coming months.
The CSE describes itself as a leading stock exchange in Canada that provides a platform for emerging companies to access capital, offering a diverse range of listings and trading options to investors.