In a sign of the times for the Canadian capital markets, the Toronto Stock Exchange is about to lose a major issuer. Newmont Corp (TSX: NGT) on Wednesday announced that they would be delisting from the exchange.
The exit from the Canadian exchange is expected to occur upon the close of markets on September 24. In making the decision, Newmont cited low trading volumes for the departure. The exit is also expected to “improve administrative efficiency and reduce costs.”
Newmont at the same time said that their primary listing will remain on the New York Stock Exchange, and that the company will remain listed on the Australian Securities Exchange and the Papua New Guinea Stock Exchange.
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Newmont last traded at $108.80 on the TSX.
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