Why do Quebec-based companies shun public capital markets? Compared to companies elsewhere in Canada, the proportion of Quebec companies listed on a stock exchange is much smaller, and the gap has been growing for several years. This reluctance means that high-growth Quebec companies are depriving themselves of one of the most effective means to improve their competitiveness and achieve sustained growth, on global markets.

Acting on their own initiative, PwC and FMC have attempted to address this question. To that end, we met with more than 60 business leaders from Quebec to elicit their comments. The pros and cons of accessing public capital markets are essentially the same from coast to coast since securities regulation has been largely harmonized across Canada. So why then are Quebec executives less willing to resort to public markets than their colleagues in other parts of Canada?

In this report:

• Perspectives of Corporate Executives and Other Stakeholders
  • Corporate Executives
  • Mining Sector
  • Social Environment
  • Quebec’s Financial Ecosystem
• The Growth Engines of the Quebec Economy
  • Growth Engines
  • Performance of the Quebec Economy: A Disturbing Diagnosis
  • Access to Public Capital Markets by Canadian Companies
  • Private Placements
  • Access to Public Capital Markets
  • Private Placements in Public Companies
  • Financing Quebec’s Mining Sector
• General Conclusions and Potential Solutions
  • Promoting Public Financing of Quebec’s Small Cap Companies
  • Promoting Financing Through the Public Capital Markets
  • Promoting Greater Familiarity of the Regulatory Environment
  • Encouraging Individual Investors to Participate in Small Cap Financing
  • Fostering the Long-Term Growth of Quebec-Headquartered Companies
  • Promoting Quebec’s Entrepreneurial Culture

Read the full report by clicking the download button.