Independent brokerage firm Canaccord Genuity Group Inc. was added to the S&P/TSX Composite index on Monday.
The Toronto-based broker joined the headline index with 12 other companies in a variety of sectors. One company, Lundin Gold Inc., was removed from the index.
“Canaccord Genuity’s inclusion in the S&P/TSX Composite Index marks an important valuation milestone and is a testament to the efforts of our employees across our wealth management and capital markets businesses, who have worked tirelessly to strengthen our market position and improve the breadth and quality of our earnings,” said Dan Daviau, president and CEO of Canaccord Genuity, in a release.
“We look forward to reaching a broader range of investors as we continue in our efforts to drive sustainable, long-term value for our shareholders,” he added.
Last week Canaccord revealed a $367-million offer for RF Capital Group Inc., parent company of Richardson Wealth, which RF’s board flatly rejected.
On Tuesday Canaccord will take its pitch directly to RF’s investment advisors and minority shareholders by hosting a webcast to discuss the offer.