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Initial Public Offering

An initial public offering (IPO) is the traditional method of obtaining a listing on a stock exchange. This method involves the preparation of a prospectus to be filed with the securities commissions, and then completion of an application for a public listing. The prospectus provides potential investors with detailed information they need to make informed investment decisions.

Please watch our short video on 6-Steps to a Traditional IPO, and read more about filing a prospectus below.

Filing a prospectus

Your prospectus is an extremely detailed and critical document in the going public process, providing investors with the information needed to make informed investment decisions. Successful completion of a prospectus requires the co-operation of management, legal counsel, auditors, securities commissions and Toronto Stock Exchange (TSX) or TSX Venture Exchange.

Filing a prospectus is a five-step process:
  1. File a preliminary prospectus with TSX or TSX Venture, as well as with your home province securities commission and other provincial jurisdictions where securities will be sold.
  2. Regulatory authorities review the prospectus and inform your professional advisors of any deficiencies.
  3. After all deficiencies are cleared to the satisfaction of the regulators, file an amended prospectus in final form.
  4. The securities commission will issue a final receipt as acceptance of the prospectus.
  5. This approval allows your company to begin selling securities in the provinces where a final receipt has been issued.