Documents show they have committed to pool their combined 35 per cent ownership of the Aussie business with the global business in exchange for a holding in the combined group.
Mid-tier broker Canaccord Genuity’s Australian outpost is getting ready to roll its Australian ownership into the global parent, as a part of aDocuments lobbed in Toronto earlier this week show Canaccord’s Australian shareholders have committed to pool their combined 35 per cent ownership of the Aussie business with the global business in exchange for a holding in the combined group.
Canaccord Australia has about 320 employees, and while many own at least shares in the listed entity, it’s not known how many also owned a stake in the Australian business. However, it would be safe to say the list would include some if not all of its directors: Marcus Freeman, David Barlow, Daniel Daviau, Donald MacFayden, Michael Manford, Stuart Raftus and Andrew Viles.The Aussie business has been a nice little profitable operation, too.
The bigger Canadian Canaccord debuted on the Australian Canaccord’s shareholder register in 2011, with a 50 per cent stake. The local arm’s shareholding split has moved over the years and was 80/20 until early 2022, when it moved to the current 65/35.
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