Subscribe
Be the first with the news that moves the market- RevoluGROUP Canada (REVO) is seeking to graduate from the TSX Venture Exchange to the Toronto Stock Exchange
- The software company has engaged a law firm, McMillan LLP, to assist with the application for a senior TSX listing
- RevoluGROUP hopes to access various benefits associated with such a listing, including greater visibility and improved M&A opportunities
- There are currently 679 companies which have successfully graduated from the TSXV to the TSX
- RevoluGROUP Canada (REVO) is up 2.44 per cent and is currently trading at C$0.21 per share
RevoluGROUP Canada (REVO) is seeking to graduate from the TSX Venture Exchange to the Toronto Stock Exchange.
Specifically, the software company plans to pursue a senior listing on the TSX. As such, RevoluGROUP has engaged a prestigious Canadian and international law firm, McMillan LLP, to assist with the application for the listing.
In an announcement, RevoluGROUP Canada commented on the various reasons which informed its choice to pursue a senior listing on the TSX. In particular, the company noted the timeliness of the decision, in what has undoubtedly been an economically tumultuous year.
“As RevoluGROUP and our five wholly-owned subsidiaries continue with the corporate expansion into international markets, the company feels that now is the correct time to commence the application process for a listing on the Toronto Stock Exchange.
“The company has chosen the prestigious Canadian & International Law firm McMillan LLP, due to their inherent and profound knowledge in these matters.
“As we continue to achieve our corporate goals, the increased access to capital, enhanced reputation, greater corporate visibility, increased analyst coverage, possible access to institutional capital, and improved M&A opportunities inherent to a senior TSX listing should, in the long run, benefit shareholders,” the announcement said.
If RevoluGROUP’s application for a cross-exchange graduation is approved, the business will join 679 other companies which have successfully transitioned from the TSXV to the TSX. Combined, these graduates have over C$202 billion in market capitalisation, and make up 19 per cent of the S&P/TSX Composite Index.
RevoluGROUP Canada (REVO) is up 2.44 per cent and is trading at 21 cents per share at 12:17pm EDT.
