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CSE Sets New Records in First Half of 2018, Including Over $1.4 Billion in Issuer Financings

The Canadian Securities Exchange (CSE) announced today that the first half of 2018 was the strongest six-month period in the exchange’s history, with trading volume, value traded, and number of listings all finishing markedly higher compared to the same period in 2017. A particularly important milestone for the exchange was issuers completing over $1.4 billion in financings during the half; more capital than was raised in all of 2017.

Key Statistics

  • Trading volume in CSE listed securities rose to 15.5 billion shares, an increase of 182% compared to the first half of 2017, and nearing the 17.4 billion shares that changed hands all of last year;
  • The value of trade in CSE listed securities was $10.1 billion, up 535%, and higher than the full-year 2017 total of $7.8 billion;
  • Financings completed by CSE issuers rose 204% to $1.44 billion, exceeding the $1.36 billion raised in all of 2017;
  • The CSE finished June 2018 with 384 listed securities.

Companies involved in cultivation, retailing and other aspects of the cannabis industry remained the CSE’s most active issuers. Twenty-five cannabis issuers debuted for trading in the first half, with capital raised by CSE listed companies in the sector totaling $999.3 million. Other strong sectors included blockchain-related at $123.4 million, and mining exploration/development at $122 million.

The CSE saw several of the single largest equity financings in its history take place in the first half, including those by MedMen Enterprises (MMEN; $143 million), Green Thumb Industries (GTI; $87 million) and Captor Capital (CPTR; $55.6 million).

Applications conditionally approved and under review is yet another gauge that reached a record level. As a result, the exchange added staff at its Vancouver and Toronto offices to ensure that service standards and processing times remained consistent. The CSE’s Vancouver team moved to a new office in June.

The CSE refined several aspects of its trading platform in the first half of 2018 to ensure that dealers continue to experience class-leading technology when executing orders on the exchange. In the second half of the year, the exchange’s technology team will devote many of its resources to advancing the blockchain-based clearing and settlement platform announced in February.

Also planned for the second half of 2018 is a redoubled effort to meet and discuss listing opportunities with potential issuers from international jurisdictions, including Israel, Asia and the Caribbean.

“The record pace of new listing applications in the first half of 2018 is a clear sign that entrepreneurs in North America understand the Canadian Securities Exchange’s commitment to considering the issuer’s point of view in everything we do,” said Richard Carleton Chief Executive Officer at the CSE. “Liquidity and financings on our exchange continue to grow, and the community of international listings is growing as well. Going forward, we see international issuers becoming a greater presence on the exchange. This will benefit all of our issuers by drawing broader attention from overseas investors to opportunities presented by the many dynamic companies that call the CSE home.”