Exempt market sees surge in individual investor activity: OSC

first_img Institutional investors still dominated the exempt market in 2019, but individual investor participation was growing, according to new data from the Ontario Securities Commission (OSC).The OSC has reported that a total of $88.6 billion was raised in Ontario’s exempt market in 2019, with around 96% ($85.3 billion) of that coming from institutions. Individual investors accounted for nearly 4% ($3.3 billion). A three-dimensional composition, a red arrow, breaks through the brick wall and can be used in any design iStock Share this article and your comments with peers on social media Keywords Exempt market,  InvestingCompanies Ontario Securities Commission BFI investors plead for firm’s sale PwC alleges deleted emails, unusual transactions in Bridging Finance case Related news James Langton Facebook LinkedIn Twitter While the amount of capital raised declined a bit, the number of issuers tapping the exempt market remained steady between 2017 and 2019 — and the OSC noted that the number of investors in the market, particularly retail investors, had increased significantly.Retail investor participation in the exempt market also differed significantly from institutional involvement, the report showed.For instance, the OSC reported that retail investors largely participated in deals for domestic issuers, whereas institutions allocated more capital to foreign firms —mostly in the U.S.Individual investors also made most of their investments in equity and other non-debt securities (70%), whereas most of the institutional capital went to debt financings (56%).By sector, retail investors also focused about 37% of their investment on the mortgage and real estate sectors, compared with just 15% for institutional investors.In 2019, around 12,900 retail investors made exempt market investments in the real estate sector, up from 8,800 investors in 2017. And, the value of those investments was up to $1.2 billion in 2019 from $0.8 billion in 2017.Most investors (both individuals and institutions) rely on the accredited investor (AI) exemption to participate in deals, followed by the offering memorandum (OM) exemption, the report said.In total, the OSC reported that the OM exemption, along with other recently-adopted exemptions (e.g. the family, friends and business associates, and existing securities holder exemptions), have been used to raise just over $1 billion since 2017.“Investor participation in Ontario’s exempt market has increased considerably,” said Paul Redman, director, regulatory strategy and research at the OSC. “The findings in this report will inform the OSC’s ongoing efforts to monitor and oversee this important component of our capital market.” New exemption aimed at savvy investors in Alberta, Saskatchewanlast_img read more

Renesas strengthens mobile chip sale speculation

first_img Justin manages the editorial content for the Mobile World Live portal and award-winning Mobile World Live TV service. In the last few years Justin has launched and grown a portfolio of premier media products, which include the Mobile World Congress… Read more AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 22 MAR 2013 Asia Previous ArticleSiemens CFO indicates NSN exit likely in 2013Next ArticleUS megadeals make positive progress Renesas strikes €5B deal for Dialog Semiconductor Related Home Renesas strengthens mobile chip sale speculation Justin Springham center_img Renesas to spend $6.7B on US chipmaker IDT Renesas targets China with Alibaba IoT partnership Author Japanese chipset manufacturer Renesas looks increasingly likely to sell its loss-making mobile phone chip business, acquired from Nokia in 2010 for $200 million.“Overseas is our main focus,” president Tetsuya Tsurumaru told reporters in Tokyo yesterday, notes Reuters, without identifying the firms his company was speaking to.A sale in Japan remained a possibility, he added, but declined to discuss whether any talks about a domestic deal were underway.Only last week the company said it will decide in fiscal 2013 whether to sell the troubled mobile business.Renesas, the world’s largest maker of microcontroller chips used in cars, has been in the red ever since buying the mobile unit and was forced to seek a $1.8 billion government-led bailout last year. The mobile chip division is part of its wholly owned subsidiary Renesas Mobile.The world’s leading maker of microcontroller chips used in cars  will receive its state financing by the end of September, at which point it will be two-thirds owned by the taxpayer-funded Innovation Network Corp of Japan (INCJ).Reuters notes that Renesas had been expected to join an all-Japanese merger of Panasonic’s and Fujitsu’s LSI chip units, which make microchips used in TVs, digital cameras and other consumer electronic products. It is believed that those talks are ongoing. Tags FinancialRenesaslast_img read more

Clean water working group acknowledges full funding not available

first_imgVermont Business Magazine The Act 73 Working Group released its recommendations today for long-term water quality funding to meet the state’s clean water goals. Significant long-term investment is needed to restore and sustain the high quality of Vermont’s waterways. While existing resources available from state, municipal and private sectors will meet their portion of the required clean water investment in the immediate future, these resources are stressed and unlikely to be adequate after FY 2021.With an eye toward developing long-term water quality solutions, the Vermont Legislature passed Act 73 in June. The Act 73 Working Group formed to develop a report that would include recommendations for an equitable and effective long-term clean water funding strategy. The Working Group examined solutions to address the primary goal of Vermont’s clean water initiative, which is not simply to raise and spend money, rather it is to reach water quality standards.The report states that it is essential that any approach to raising revenue is efficient with administrative costs proportionate to the revenue raised. This report offers concrete recommendations for improving water quality over the long-term and lays out a set of parameters that will guide how state dollars are invested to ensure they produce improvements in the most efficient and effective manner possible.“Investing in clean water provides a unique opportunity to protect Vermont’s environment and grow our economy by revitalizing working landscapes, school campuses, downtowns and village centers, supporting farmers and local agriculture, upgrading state and local roads, and restoring important natural resources. We are aggressively funding water quality improvement projects, providing direct support for implementation. Since July alone, the State of Vermont has funded nearly $17 million dollars in clean water projects,” said Agency of Natural Resources Secretary Julie Moore.On November 15, the Act 73 Working Group delivered its Water Quality Funding Report to the Vermont Legislature. This report is an important step forward in identifying long-term water quality funding. The recommendations put forth in the report reflect the need for action and propose a path forward to fund future clean water investments.  There are five key, consensus-based recommendations in the report, listed below: Utilize existing state revenues and financial instruments to fund clean water through FY21.Allow clean water priorities to guide how costs are shared across sectors.Establish approaches for revenue collection and service delivery that are environmentally efficient and cost effective.Pursue technological and regulatory innovation, including commoditizing phosphorus, developing flexible financing, and leveraging integrated planning and permitting models.Commit to adaptive management.The report identifies and provides background on critical public policy decisions, including the level of cost-share the state is willing to provide each sector for clean water projects. With respect to “equitable and effective long-term funding,” the Working Group identifies a series of service delivery models that could provide the technical and administrative capacity needed to ensure the efficient, effective delivery of funds and commits to immediately drafting the scope of work that will lead to selection of a preferred approach.When it comes to the state’s role in cost sharing, the Working Group recommends the General Assembly develop a cost-share strategy that will allow the state to distribute revenue across the range of required water quality investments. This report is part of a continued conversation on the state’s overall vision for water quality goals, and the revenue collection and investment needed to inform potential approaches for both raising and distributing revenue.For more information, visit http://anr.vermont.gov/about/special-topics/act-73-clean-water-funding(link is external).Source: ANR 11.15.2017last_img read more