IMAX quits Canada exchange
January 13, 2015
By Chris Forrester
IMAX is leaving the Toronto stock exchange via a voluntary de-listing. Instead the giant theatre screen specialists will focus on the New York Stock Exchange (NYSE) where it also has a listing.
The switch will be made on January 19th, and Canadian shareholders will automatically be able to trade on the NYSE.
IMAX, in a statement, said low trading on the Toronto exchange plus the high costs of maintaining a listing, meant it made more financial and administrative sense to switch.
IMAX was founded in Canada and opened its first giant screen in Toronto in May 1971. Today IMAX is headquartered in New York, Los Angeles – and Toronto. As at September 30th last year there were 880 IMAX theatres in commercial and institutional venues.