TMX Group Ltd., formerly known as Maple Group Acquisition, expects the new shares in the stock exchange operator to start trading on Wednesday.
The company made the announcement Friday as it said it has completed the final step in its takeover, which saw TMX Group Inc. shareholders exchange for shares of TMX Group Ltd. shares.
The swap followed a first step that saw TMX Group Ltd. pay $50 in cash per share for about 80 per cent of the shares in TMX Group Inc.
Former shareholders of TMX Group Inc. hold a 22.1 per cent in the new company, while the former Maple Group members hold the remaining stake in the exchange operator.
The new TMX Group owns the Toronto Stock Exchange in addition to the alternative Alpha exchange and the country’s largest clearing house CDS, controlling some 90 per cent of trading in Canada.Report Typo/Error