Skip to main content
The Globe and Mail
Support Quality Journalism
The Globe and Mail
First Access to Latest
Investment News
Collection of curated
e-books and guides
Inform your decisions via
Globe Investor Tools
Just$1.99
per week
for first 24 weeks

Enjoy unlimited digital access
Enjoy Unlimited Digital Access
Get full access to globeandmail.com
Just $1.99 per week for the first 24 weeks
Just $1.99 per week for the first 24 weeks
var select={root:".js-sub-pencil",control:".js-sub-pencil-control",open:"o-sub-pencil--open",closed:"o-sub-pencil--closed"},dom={},allowExpand=!0;function pencilInit(o){var e=arguments.length>1&&void 0!==arguments[1]&&arguments[1];select.root=o,dom.root=document.querySelector(select.root),dom.root&&(dom.control=document.querySelector(select.control),dom.control.addEventListener("click",onToggleClicked),setPanelState(e),window.addEventListener("scroll",onWindowScroll),dom.root.removeAttribute("hidden"))}function isPanelOpen(){return dom.root.classList.contains(select.open)}function setPanelState(o){dom.root.classList[o?"add":"remove"](select.open),dom.root.classList[o?"remove":"add"](select.closed),dom.control.setAttribute("aria-expanded",o)}function onToggleClicked(){var l=!isPanelOpen();setPanelState(l)}function onWindowScroll(){window.requestAnimationFrame(function() {var l=isPanelOpen(),n=0===(document.body.scrollTop||document.documentElement.scrollTop);n||l||!allowExpand?n&&l&&(allowExpand=!0,setPanelState(!1)):(allowExpand=!1,setPanelState(!0))});}pencilInit(".js-sub-pencil",!1); // via darwin-bg var slideIndex = 0; carousel(); function carousel() { var i; var x = document.getElementsByClassName("subs_valueprop"); for (i = 0; i < x.length; i++) { x[i].style.display = "none"; } slideIndex++; if (slideIndex> x.length) { slideIndex = 1; } x[slideIndex - 1].style.display = "block"; setTimeout(carousel, 2500); }

Here are the top reads on deals and financial services over the last week,

Nuvei stock soars after largest tech IPO in TSX history: Montreal payments-processing company Nuvei Corp. soared in its debut as a public company Thursday after raising US$700-million in the largest technology initial public offering ever on the Toronto Stock Exchange. (Sean Silcoff)

Bay Street mostly left out again as Wall Street banks dominate $2-billion-plus underwriting roles: Shopify Inc. on Tuesday filed preliminary prospectuses to raise US$800-million in convertible senior notes and to sell 1.1 million subordinate voting shares. Wall Street banks Goldman Sachs, Citigroup and Credit Suisse are the only ones listed in the regulatory documents as underwriters and stand to earn millions in fees on the financings. Sources familiar with the company said Royal Bank of Canada, which played a secondary role on Shopify’s May, 2015, initial public offering, would be added as a co-manager on the debt and equity deals, a junior role on the offerings. (Sean Silcoff)

Story continues below advertisement

BMO clients launch lawsuit alleging millions lost from adviser’s risky trading strategies: A group of Bank of Montreal clients are suing their financial adviser, along with the bank’s brokerage division, claiming they have lost tens of millions in savings after being placed in high-risk trading accounts without their consent. (Clare O’Hara)

Bombardier strikes firm deal to sell rail business at lower price: Bombardier Inc. will sell its rail business to French train giant Alstom SA for US$350-million less than originally planned, as the deal moves ahead to an expected close by next spring. (Nicolas Van Praet)

Calgary oil patch waits for confirmation of its first significant IPO in years: On Monday, a private outfit called Topaz Energy Corp. had been scheduled to give a presentation to a virtual edition of the annual Peters & Co. conference. The Street had been waiting with interest, given that an IPO has been under consideration. But Topaz cancelled its spiel, leading analysts and investors to wager it had entered the required quiet period before filing a prospectus for an offering that could raise hundreds of millions of dollars. (Jeffrey Jones)

Regulators prohibit discount brokers from selling funds with embedded advisory fees: Discount brokerages will soon be banned from selling certain mutual funds that have charged investors billions in fees for advice they did not receive. On Thursday, the Canadian Securities Administrators finalized rules that will ban fund companies from paying so-called trailing commissions to discount brokerages, starting June 1, 2022. (Clare O’Hara)

War for Cogeco heats up as the Quebec company accuses Rogers of bad faith and Rogers accuses Cogeco of unacceptable behaviour: A takeover battle for Cogeco Inc. and its subsidiary Cogeco Communications Inc. has grown increasingly hostile, with both sides accusing the other of flouting corporate governance rules. (Alexandra Posadzki)

GardaWorld mounting hostile takeover attempt for G4S worth $5-billion: Canadian security company GardaWorld is mounting a hostile takeover attempt for British rival G4S PLC worth £3-billion ($5-billion), betting it can stir investor support for an offer after being snubbed in three previous approaches over three months. (Nicolas Van Praet)

The Streetwise newsletter is Monday to Friday. If you’re reading this on the web, or if someone forwarded this e-mail to you, you can sign up for Streetwise and all Globe newsletters on our signup page.

Report an error Editorial code of conduct
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies