The Board of Directors of Montréal Exchange Inc. (MX) announced today that it has decided in favour of listing the Exchange's shares by proceeding with a listing without offering. The listing should occur once the formal procedures have been completed, which should be in March or April 2007.
"The Board's decision to list the Montréal Exchange's shares was based fundamentally on the recognition of the level of maturity attained by the organization," declared Luc Bertrand, President and Chief Executive Officer of the MX.
"Given the current situation-in which the MX business generates sufficient funds to finance its activities and development projects-the members of the Board of Directors and of the MX management concluded that a listing without offering meets the liquidity objective for MX shares.
The MX management team and employees will continue to focus on managing the growth and development of the Company. Listing the MX shares will simplify questions about the Company's value and, at the same time, clearly establish its public status and the rules that govern it," concluded Mr. Bertrand.
A listing without offering simply consists of listing a Company's existing shares.
