RF Capital Group Inc. in Major Acquisition Deal

Toronto-based RF Capital Group Inc., a prominent player in the financial services sector, has recently been the subject of significant news due to a major acquisition deal. On July 30, 2025, iA Financial Corporation Inc. announced its intention to acquire RF Capital Group Inc. in a transaction valued at approximately $597 million. This acquisition marks a significant development in the capital markets industry, with iA Financial set to acquire all issued and outstanding shares of RF Capital Group at $20.00 per share, as per a plan of arrangement under Section 182 of the Business Corporations Act (Ontario).

Richardson Financial Group’s Support

In a related development, Richardson Financial Group Limited (RFG) has entered into a support and voting agreement with iA Financial. This agreement ensures that RFG will vote all of its directly and indirectly held common shares of RF Capital Group in favor of the acquisition. RFG, which owns approximately 44.32% of RF Capital Group’s issued and outstanding shares, plays a crucial role in facilitating this transaction.

Financial Performance and Outlook

RF Capital Group is set to report its second quarter 2025 results on July 31, 2025. Analysts have projected an earnings per share (EPS) of 0.017 CAD, a decrease from 0.110 CAD in the same quarter of the previous year. Revenue is expected to increase by 6.33%, with projections of 95.5 million CAD compared to 89.8 million CAD in the prior year. For the current fiscal year, analysts anticipate a loss of -0.095 CAD per share, an improvement from -0.240 CAD per share in the previous year. Total revenue is expected to reach 390.0 million CAD, up from 363.7 million CAD.

Company Overview

RF Capital Group Inc., an independent financial services firm based in Toronto, offers a range of services including wealth management, operations clearing, and corporate finance. The company, which went public in December 2003, is listed on the Toronto Stock Exchange. As of July 29, 2025, its close price was 19.85 CAD, with a 52-week high of 20 CAD and a low of 6.31 CAD. The market capitalization stands at 312,100,166 CAD.

This acquisition by iA Financial is poised to reshape the landscape of the capital markets industry, with RF Capital Group’s extensive services and global customer base expected to enhance iA Financial’s offerings.