Canadian crypto asset broker Voyager Digital Ltd has started trading its shares on the Toronto Ventures Exchange (TSX.V). The company listed through a reverse takeover of mineral exploration company UC Resources. Voyager argues that going public will help to improve transparency in the crypto market while promoting adoption by allowing traditional investors to tap into digital assets through the public equity market.
Listing Will Boost Transparency and Crypto Adoption
Shares of Voyager will trade under the ticker symbol VYGR.V. While reverse takeovers are an increasingly popular business strategy for many emerging companies, the idea of a young company going public may at first glance seem out of the norm, Stephen Ehrlich, chief executive officer of Voyager, explained in a blog post.
For us, the choice made perfect sense. It offered Voyager the chance to bring transparency to our business, maturity to the crypto market and to provide the world with an opportunity to invest in a public crypto trading company through the traditional market.
Voyager is now trading on the TSX Venture Exchange. For us, going public just made sense to bring transparency to our business and promote it across this emerging and thriving sector. Learn more about why we chose to go public and join us in our journey. https://t.co/FoTnrHhsaY pic.twitter.com/DwAuTLlG6G
With a reverse takeover, private companies typically avoid the rigor of regulatory oversight and costs associated with going public through an initial public offering, which in a sense makes them attractive to startups keen on getting around bureaucratic red tape.
Voyager has recently announced the finalization of its tie-up with UC Resources, a publicly quoted company on the NEX Exchange, Canadas junior market for emerging companies. By virtue of the merger, which in effect is a takeover of UC Resources majority shareholding, Voyager has gone public. The deal allows the merged entity to transition to the TSX Ventures Exchange as a Tier 2 company.