TSX Group, the operator of the Toronto Stock Exchange and the TSX Venture Exchange, will hold an information meeting next week to explain the benefits Arizona companies can reap by listing their shares on the Canadian exchanges.
The half-day conference, beginning at 11:30 a.m. Tuesday at the Arizona Biltmore Resort is part of a nationwide nine-city tour by the Canadian exchanges to encourage more American companies to look north for growth capital.
At least 160 people are registered to attend, which would make it the largest turnout of the six cities visited so far, said Kevan Cowan, president of the TSX Venture Exchange.
“What we’re learning is that although Phoenix is fast growing, it doesn’t quite have the same affinity with New York and Wall Street, and people may be looking for alternative ways of growing their companies,” he said.
A total of 116 U.S. companies are listed on the two exchanges, most below $400 million in market capitalization, he said. The Toronto exchange features larger-cap companies while smaller companies are on TSX Ventures.
The Canadian exchanges specialize in mining and energy stocks and smaller technology companies looking for alternatives to the NASDAQ and over-the-counter markets, he said.
U.S. institutional and accredited investors can buy Canadian stocks almost seamlessly, he said. Of all of the trades during 2006 on the two exchanges, about 40 percent were from the United States, he said.
“If you combine U.S. institutional investment with Canadian investment, this is a great stepping stone for small companies,” he said.
Five Arizona-based companies are currently listed on the exchanges. Among East Valley companies, Ventura Gold Corp. of Scottsdale is listed on the TSX Ventures exchange while International Minerals Corp. of Scottsdale is listed on the Toronto exchange.
More information on the session is available at www.tsx.com/usa.