TMX Acquires Cboe to Boost Mining Listings in Australia
TMX has acquired Cboe Australia for $300 million to enhance mining listings, targeting small-scale critical mineral miners. This move aims to fill the gap in Australia's junior market, potentially enabling more companies to list without the high costs of ASX compliance.
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TMX's acquisition of Cboe Australia for $300 million aims to stimulate mining listings, especially for small companies involved in critical minerals. This acquisition follows Cboe Australia obtaining a license for direct equity listings, which could provide an alternative to the ASX's stringent requirements for smaller firms.
TMX's CEO, John McKenzie, noted that the company has previously helped 1,110 mining firms raise C$1 trillion (US$714 billion). The takeover, pending regulatory approval, positions TMX alongside CNSX as major players in Australia's stock exchange landscape. The ongoing restructuring at ASX, including leadership changes and technological upgrades, presents both challenges and opportunities for TMX's initiatives.
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