WSE gets approval for new venture capital listing

This development follows on the heels of the Alberta Stock Exchange’s very successful Junior Capital Pools, and the Vancouver Stock Exchange’s version introduced late last year. KeyStone Companies will be able to list on the WSE with seed money before making an acquisition.

KSC’s can be formed with investments of between $100,000 and $200,000 of management’s own funds, adding another $200,000 to $500,000 from a minimum of 200 Manitoba shareholders after receiving approval from the MSC and WSE. The use of standard prospectuses cuts down on the paperwork.

KSC then have 18 months to make an approved acquisition, which must make the firm eligible for regular listing. Until they make their acquisition KSC’s will trade under symbols ending with the extension (.K). The KSC program is open for business effective immediately.

The KeyStone policy is now available on the WSE’s upgraded website at www.wse.ca.

Meanwhile the ASE and VSE are still hard at work on merging their exchanges. It’s likely to be called the Canadian Venture Exchange. The new exchange will also incorporate the Toronto Stock Exchange’s Canadian Dealing Network.

It has pledged to invite the WSE to join too, creating a single venture exchange for the country.

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