Montréal, June 15, 2016 – The Board of Trade of Metropolitan Montreal supports the recommendations contained in the report of the task force to address the limited number of stock market listings among Quebec companies, the Groupe de travail sur le déficit d’inscriptions en Bourse des sociétés québécoises, chaired by Claude Désy, partner at Dunton Rainville, and Sylvain Vincent, partner at EY.
“The growth of local SMEs is one of the Board of Trade’s main priorities,” said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. “We need to look at the initial public offering (IPO) ecosystem; otherwise, we deprive ourselves of a powerful financing tool that businesses in other provinces benefit from.”
“International competition is intensifying at a time when local businesses must internationalize to grow,” Michel Leblanc said. “This requires many high-calibre financing tools, and a stock market listing is a clear source of capitalization that local businesses should take advantage of.”
The financial sector generates 6.2% of Quebec’s GDP and accounts for close to 160,000 jobs in the province. This booming industry is a significant source of wealth creation for Quebec and contributes to its international reputation. Plus, in the past three years, the city has climbed from 26th to 16th place in the Global Financial Centres Index rankings.
“Developing and reinforcing our expertise in this sector can only benefit the city and its business community,” Michel Leblanc said. “The report proposes concrete initiatives that would reinforce this valuable offer for local businesses. The Board of Trade is ready to help mobilize the business community to strengthen the ecosystem and enable local businesses to move to the next level.”
About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal is made up of over 7,000 members. Its mission is to be the voice of Montréal’s business community and to promote the city’s prosperity. It is involved in key areas of economic development, advocating a philosophy of action based on engagement, credibility, proactivity, collaboration, and innovation. The Board of Trade also offers a range of specialized services to individuals and to businesses of all sizes to support them in their growth at home and abroad.
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Source:
Guillaume Bérubé
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Phone: 514 871-4000, extension 4042
gberube@ccmm.qc.ca
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