A Capital OpportunityA Global Market for Companies
Disclaimer
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Canada and TSX: Strong Fundamentals
Economically stable• Canada is the fifth largest equity
market by float capitalization in the MSCI World Index
• World’s soundest banking system
• Lowest debt-to-GDP among G7• Strong equity culture• ~$2.4 trillion in market cap• $270 billion in equity capital
raised in last 5 years
A dynamic marketplace• Robust marketplace• Access to capital• History of innovation• Committed to growth
Canadian Markets… Global Leaders
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1st 1stIn Listed Mining
Companies WorldwideIn Listed Oil and GasCompanies Worldwide
In Market CapitalizationIn Equity Financing
In Global Mining and Global Gold S&P/TSX Indices
In Exchange-Traded Funds (ETFs)Originator of the World’s First ETF
1stIn Listed Clean Technology
Companies Worldwide
1st 1st
2nd 7th 7th
In the World by Number of New Listings
In the World by Number of Listed Companies
2nd
Source: World Federation of Exchanges, December 2013, TSX and TSXV Market Intelligence Group4
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Global Exchange Leader in 2013
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TSX/TSXVLSE/AIM
NYSE/MKTEuronext
Nasdaq OMX
ASXHong Kong Exchanges
Number of Issuers Listed 3,673 2,736 3,433 3,392 2,055 1,643
Quoted Market Value(US$ Trillions) 2.1 4.4 21.5 7.4 1.4 3.1
New Listings International New Listings
26625
17032
32535
144N/A
8419
1104
Equity Capital Raised(US$ Billions) 42.0 47.5 202.8 77.5 49.0 48.3
Value Traded (US$ Trillions) 1.4 2.2 15.4 10.2 0.9 1.3
Source: Capital IQ and World Federation of Exchanges, December 2013
Access to Capital
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Toronto Stock Exchange and TSX Venture ExchangeTotal Financings (C$ Billions) 1999 – 2013
* TSX Venture Exchange commenced operations on November 29, 1999
19.223.1 20.9
25.829.1 28.4
46.241.8
47.6
35.3
60.0
44.141.0
50.6
39.9
2.4 1.1 1.4 2.4 4.1 6.1 7.9 11.15.5 5.0
9.8 10.16.0
3.8
19.2 25.5 22.0 27.331.5 32.5
52.249.7
58.8
40.8
64.9
54.0 51.156.5
43.6
1999* 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Average Financing Size:TSX: $67MTSXV: $2M
Toronto Stock ExchangeTSX Venture Exchange
Diverse Issuer Base
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Mining 1,618
Oil & Gas & Energy Services 449
ETPs296
Structured Products 214
Life Sciences110
Diversified Industrials
254
Financial Services122
CPC 115
Clean Technology 116
Real Estate 106
Technology169
Utilities &Pipelines 29
Comm & Media 52
Forest Products23
*As at December 31, 2013, Includes issuers on TSX and TSXV (100% = 3,673)
Number of Issuers by Sector
8
583graduates
+147 M&A*
Market Capitalization, December 31, 2013
Service at All Stages of Growth
* From January 1, 2000 – December 31, 2013
35%29%
36%
94%
5% 1%
<$50 Million $50 - $250 Million >$250 Million
% of TSX Issuers% of TSXV Issuers
535 Issuers
2,015 Issuers
442 Issuers 114
555 Issuers 12
Serving all Market Caps A Unique Market Structurewith a Strong Feeder
System
The World Lists on TSX and TSXV
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TSX and TSXV International Listings by Country/Region
Total International Listings as at December 31, 2013= 314
TSX = 164 Listings | QMV=$151 B
TSXV = 150 Listings | QMV= $2.8 B
The World Trades on TSX and TSXV
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~40%of daily trading originates from international brokers
7th in the world in value traded
TSX and TSXV by the Numbers
$66.5MAverage Financing on TSX266
Going public events
* As of or YTD December 31 2013
$43.6BEquity raised
3673Issuers
$2.4MAverage Financing on TSXV
1111
The Ideal Equity Marketplace
Total Corporate IPOs in Canada and U.S.*
Average IPO Size on TSX: $100 MAverage IPO Size in USA: $262 M
Top 10 Corporate IPOs on TSX in 2013
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*Source: Hoovers IPO Central
CompanyEquity Raised (C$)
1Choice Properties Real Estate Investment Trust
$460 M
2Pattern Energy Group Inc.
$418 M
3CT Real Estate Investment Trust
$264 M
4BRP Inc.
$262 M
5Oryx Petroleum Corporation Limited
$251 M
6Cardinal Energy Ltd.
$247 M
7Milestone Apartments Real Estate Investment Trust
$229 M
8TransAlta Renewables Inc.
$221 M
9Information Services Corporation
$169 M
10Agellan Commercial Real Estate Investment Trust
$135 M
Top 10 Corporate IPOs on Toronto Stock Exchange in 2013 as measured by Gross Proceeds (C$)
Support for Companies of all Sectors and Sizes
New Listings by Sector Equity Financings by Sector
$43.6BValue of Financings by Sector
TSX and TSXV 2013
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TSX and TSXV International New Listings by Region
TSX and TSXV International New Listings by Sector
314 Total International
Listings
252013 New
Listings
Support for International Companies of all Sectors and Sizes
71
55
40
4949
3631
25
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Multiple Pathways to Listing
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CPCCapital Pool Company
SPACSpecial Purpose
Acquisition Corp.
Capital Pool Company™ (CPC) Program has a Strong Track Record
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Anatomy of a Qualifying Transaction (QT)
Since inception– 2,401 CPCs were created– 84% have completed their
QT (2,015 companies)
Currently– 339 graduates now trade on
TSX– 92 of the grads were CPCs– 66 QTs in 2013
CPC Private Company
Qualifying TransactionCoinciding Private Placement
New TSX Venture Company
A new clean CPC shell has none of the hidden costs of a shell
with previous operating history
Specific Listing Criteria for Mining,
Oil & Gas and Industrial SectorsTechnical Listing Requirements
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