[Last updated: 1 January 2025, unless otherwise noted]

An application will need to be made to the relevant stock exchange to delist the securities and with the applicable securities regulatory authorities for the target company to cease to be a reporting issuer. This application to cease to be a reporting issuer usually can be made once there are fewer than 51 target company shareholders remaining worldwide, and not more than 15 shareholders in any one Canadian jurisdiction. The target company's continuous disclosure obligations under the Canadian securities regime cease once it ceases to be a reporting issuer in Canada.

You may also refer to Baker McKenzie's Global Guide to Take-Private Transactions, which covers some of the noteworthy features and requirements applicable to take-private transactions.