TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,065.35, up 153.09 points.)
Just Energy Group Inc. (TSX:JE). Energy. Down 27.5 cents, or 37.16 per cent, to 46.5 cents on 30.4 million shares.
Zenabis Global Inc. (TSX:ZENA). Health care. Down half a cent, or 8.33 per cent, to 5.5 cents on 19.3 million shares.
Bank of Nova Scotia. (TSX:BNS). Financials. Up 25 cents, or 0.46 per cent, to $54.46 on 7.3 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 42 cents, or 2.46 per cent, to $16.63 on 6 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Up one cent, or 2.94 per cent, to 35 cents on 5.7 million shares.
Canadian Natural Resources Ltd. (TSX:CNQ). Down 39 cents, or 1.77 per cent, to $21.63 on 5.6 million shares.
Companies in the news:
Cogeco Communications Inc. (TSX:CCA). Up $3.36 or 3.2 per cent to $109.87. Cogeco Communications Inc. says its strategy is unaltered by costly promises made to Quebec from Rogers Communications Inc. in the event it succeeds in acquiring the telecom company. Having closed the door to its sale, the Montreal-based company controlled by the Audet family, "remains focused on achieving its profitable growth strategy" and on pursuing its investments, Cogeco said in an email. The company says Rogers can invest as much as it wants in Quebec, but doesn't need Cogeco to do so. The Toronto-based telecommunications giant went on the offensive Friday by unveiling a series of commitments if it manages to secure the Canadian assets of Cogeco and its main subsidiary, Cogeco Communications.
Tourmaline Oil Corp. (TSX:TOU). Down 53 cents or 3.1 per cent to $16.60. Shares in Tourmaline Oil Corp. tracked lower Friday as its subsidiary, Topaz Energy Corp., announced it has filed a preliminary prospectus to raise $252.5 million through an initial public offering. The offering — which will test the market's appetite for new energy investments — is to generate $217.5 million from sales of treasury shares, along with $35 million from a secondary offering of shares held by majority owner Tourmaline. The shares to be priced at between $13 and $15 each. Final pricing and closing is expected in the latter part of October.
Calfrac Well Services Ltd. (TSX:CFW). Up half a cent or 3.4 per cent to 15 cents. Shares in Calfrac Well Services Ltd. rose on Friday after the company sweetened its recapitalization offer with cash for shareholders while it tries to fend off a rival American firm's takeover bid. The Calgary-based oilfield services firm, which specializes in hydraulic fracturing or "fracking" of oil and gas wells, announced a revised plan under which each shareholder could elect to be paid 15 cents per share in cash, from a maximum pool of $10 million. The available cash, which would be borrowed, would cover about 46 per cent of the total common shares outstanding, he added. The revised recapitalization plan includes the provision of two warrants per share with an exercise price of five cents for three years, potentially boosting the number of shares by 5.5 per cent, Syed pointed out.
TMX Group Ltd. (TSX:X). Up 13 cents to $135.42. TMX Group Ltd. has signed a deal to acquire AST Investor Services Inc. (Canada) for $165 million. AST Investor Services and its subsidiary AST Trust Company (Canada) provide transfer agency, corporate trust and related services to Canadian public and private companies. They have about 150 employees in offices in Toronto, Montreal, Calgary and Vancouver. TMX Group, the operator of the Toronto Stock Exchange, is acquiring the companies from Armor Holdco Inc., a portfolio company of Pacific Equity Partners. Armor’s U.S. operations, including American Stock Transfer & Trust Company LLC and D.F. King & Co., Inc., are not a part of the transaction.
This report by The Canadian Press was first published Sept. 25, 2020.
The Canadian Press