TMX Group CEO addresses cannabis confusion
TMX Group CEO Lou Eccleston says bringing Saudi Aramco’s coveted listing to the Toronto Stock Exchange is still a possibility.
“We’re in the discussion – other than that, I’m not an oddsmaker ,” he told BNN in an interview Thursday. “I think we are certainly well-qualified to be there. We’re in the conversation.”
TMX Group, which owns and operates the TSX, said earlier this year it was making a pitch to Saudi officials to land a listing for the state-owned oil producer’s initial public offering. Exchanges across the globe have been vying to get a piece of Aramco, which is expected to be valued at US$2 trillion.
Eccleston said no matter the outcome, the effort was worthwhile.
“I think we have wins out of this whether we get that [listing] or not. We’ve really been able to position our global resource franchise,” he said. “I think it’s been a worthwhile effort regardless of what happens.”
Eccleston said the TMX has done all it can to bring the blockbuster listing to Toronto.
“I think we’re doing everything we can and we’ll hope for the best.”