Hampton Securities: Going public, raising cash as part of a plan to be industry consolidator

, Income

A man walks past a building in Toronto that used to house the Toronto Stock Exchange.

The ranks of publicly listed retail brokerage companies will expand by one with news that a capital pool company is set to acquire privately held Hampton Securities, a firm that has been around since 1996, and which now plans to be an industry consolidator.

The deal is by way of a reverse takeover and will count as a so-called qualifying transaction for Dominion General Investment Corp., the capital pool company taken public in late 2014.

Hampton will also be in the market with an equity offering that could raise $20 million. (For the reverse to proceed at least $2 million has to be raised.) That cash will be used to acquire other dealers — particularly those that operate under an IIROC registration — or individual brokers.

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