Investors break records with vengence on the TSE

Records were broken with a vengeance on the Toronto Stock Exchange with investors trading a greater dollar value and a greater volume of shares in 1986 than ever before.

Dollar value traded rose to $63.7 billion, exceeding the 1985 total of $44.2 billion by 44.1%, according to preliminary statistics compiled by the TSE. Volume of shares traded totalled 4.9 billion shares, an increase of 48.8% over the 3.3 billion shares traded in the prior year.

Average daily value and average daily volume traded in 1986 rose to $252.7 million and 19.5 million shares compared with $175.4 million and 13.1 million shares traded in 1985 respectively. In December, dollar value traded reached $4.5 billion, an increase of 4.7% from December, 1985, and 1% higher compared with November, 1986. Share volume of 381.7 million represents an increase of 14.7% from December, 1985, and an increase of 8.5% from November.

In the fourth quarter of 1986, value of trading increased 13.7% from the comparable period last year to $14 billion and was up 3% from the previous quarter.

Share volume traded in this period reached 1.13 billion, an increase of 18.9% over the third quarter of 1985 and up 3.7% from the third quarter of 1986. Record-breaking listings

The TSE listing department benefited from this activity and was kept hopping in 1986. A total of 165 companies listed 175 issues on the TSE for the first time last year, by far exceeding the previous record high total of 100 newly-listed companies set in 1984.

Also listed in 1986 were 67 supplementary issues of companies already listed, compared with 56 in 1985. The total number of issues listed at year-end reached another record high of 1,703 including warrants, surpassing the previous record of 1,557 issues at year-end in 1985.

Among the companies raising funds through the Exchange Offering Prospectus (EOP) procedure that qualified for listing on the exchange were Acadia Mineral Ventures, Brick Brewing, Canhorn Mining Corp., Glen Auden Resources, Power Explorations and Western Goldfields.

These six companies have raised a total of $11.9 million using this financing procedure compared with six companies that raised $7.5 million in the prior year. In addition, $13 million was raised through this procedure by companies already listed.

Newly-listed companies in 1986 added an additional $16.289 billion to the TSE quoted market value compared with $5.914 billion added a year ago. The total number of companies listed at year-end totalled 1,085 up 119 from the previous year.

Other changes to the list of stocks in 1986 were: 67 substitutional listings; 41 companies changed their names; 107 securities were delisted; 81 securities were subdivided; 17 companies issued rights; 60 companies issued warrants and 46 outstanding warrant issues expired. Canada-wide activity

Looking at market activity on all of Canada’s five stock exchanges, records were broken in both dollar value traded and share volume traded in equity issues, according to preliminary statistics.

Total dollar value of trading reached $84.6 billion, 46.5% higher than the previous year’s $57.8 billion, while 9.9 billion shares changed hands, an increase of 42.5% over the 6.9 billion shares traded in 1985.

Of total equity trading in Canada in 1986, Toronto accounted for 75.2% of the value traded and 49.7% of the share volume traded compared with 76.5% and 47.6% traded in 1985, respectively.

The Montreal Exchange represented 18.9% of the total value traded and 11.1% of the total share volume.

The Vancouver Stock Exchange’s trading accounted for 5.3% of the total value and 35.4% of the total shares traded.

The Alberta Stock Exchange contributed 0.6% to the total value and 3.8% to the total share volume whereas Winnipeg accounted for less than 0.1% of the total value and total volume of shares transacted on the five exchanges.