The directors of Australian e-gaming and esports businesses iCandy Interactive Limited (ASX: ICI) have approved in principle for the company to embark on a secondary listing in Canada.
The company, developer and publisher of mobile games and digital entertainment for a global audience of over 350 million mobile gamers, believes that the Proposed Dual Listing will broaden its investor base in North America and drive shareholder value.
The company is currently considering a suitable Canadian exchange for the proposed Dual Listing which will be subject to the company obtaining various approvals.
The company also announced it looking at raising up to A$ 3.34 million of new capital from the Canadian market in conjunction with the proposed Dual Listing.
Canada was chosen as the venue for the Proposed Dual Listing due to the attractiveness of its macro-economic factors.
The Canadian securities market is vibrant with the Toronto Stock Exchange (TSX) leading a total of six registered exchanges in Canada. The TSX is the 9th largest stock exchange in the world, having a total market capitalization of US$2.2 trillion as of May 2019.