TSX Group Completes IPO

On November 12, 2002, the TSX Group Inc. completed a $392,849,532 initial public offering of 21,824,974 common shares at $18 per share. TSX is the holding company that owns and operates the TSE and TSX Venture Exchange. This was the first public offering and listing by a stock exchange in North America. The shares are being offered publicly in Canada, and pursuant to Rule 144A in the U.S.

TSX was represented by in-house counsel Leonard Petrillo, Tammi Goldstein and Kathleen Traymor, and by a team from Torys LLP in Toronto and New York that included Dick Balfour, Sharon Pel, Patrice Walch-Watson, Darren Sukonick, Deanna Dobrowsky, Aaron Emes, Wendy Kennish, Gavin Sinclair, Andy Beck and Geoffrey Gilbert (corporate/securities), Jim Welkoff (tax), Jim Tory and Linda Plumpton (litigation), Christina Medland (employee benefits) and Bill Estey (research).

Ogilvy Renault represented Scotia Capital Inc. and Goldman Sachs Canada Inc. as joint lead underwriters and book runners, as well as BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., RBC Dominion Securities Inc., TD Securities Inc., Merrill Lynch Canada Inc., Canaccord Capital Corporation, Dundee Securities Corporation, Griffiths McBurney & Partners, Raymond James Ltd. and Yorkton Securities Inc. as underwriters. The Ogilvy Renault team included Rick Sutin, Cathy Singer, Michael Bennett, Alan Sinclair and Eric Reither, and Ash Gupta (tax) and Duncan Card and Heidi Leslie (technology). In the U.S., Skadden, Arps, Slate, Meagher & Flom LLP represented Goldman, Sachs & Co., and Scotia Capital with a team that included Chris Morgan, Eric Spindel and Raziel Zisman (corporate) in Toronto and Eric Sensenbrenner (tax) in Washington, D.C.