What Are the Minimum TSX Listing Requirements to Go Public in Canada?

Understanding the listing requirements of each security exchange can help you distinguish if your company is ready to go public on the Canadian markets. In this post, we address the listing requirements for the TSX.


Listing Requirements – The Toronto Stock Exchange (TSX)


The TSX can be viewed as a platform that offers a market for deep-rooted businesses and management teams with experience in public markets. This is why the TSX is primarily concentrated on listing growth-oriented companies with strong performance records. Applicant companies are usually separated into three distinct categories, including industrial companies, mining companies and oil and gas companies. The Exchange has specific listing requirements for each category of business. For industrial companies, the financial standards differ for profitable companies, companies projecting profitability, technology companies and research and development companies. In regard to mining and oil and gas companies, it is important to keep in mind that there are different criteria for producing companies and exploration and development companies.


In general, once listed, and applicant company must have the following:


  • At least one million freely trading public shares.

  • An aggregate market value of at least C$4 million, which are held by at least 300 public shareholders, each holding at least one board lot (100 shares).

  • Adequate working capital to carry on business ventures along with an appropriate share structure.

  • Must exhibit suitable management expertise and experience. The experience and expertise should not only be applicable to the company’s business and industry, but also to public company experience as a whole.


International companies currently listed on other exchanges do not have to meet specific TSX listing requirements but must demonstrate that they are able to satisfy public reporting obligations in Canada. Furthermore, companies structured under the laws of foreign jurisdictions that do not have comparable shareholder protections to those under Canadian corporate law may be required to adjust their constating documents to provide proper protection.

If your company is ready to list on the TSX or needs more information in regard to the process of taking your company public, please contact our team who will gladly answer any questions you may have.


*For more information, please visit the TSX website.