What does MIM mean in TORONTO STOCK EXCHANGE
MIM stands for MI Developments Incorporated, a Canadian real estate and horse racing company that was among the largest of its kind in North America until it de-listed itself in 2020. MIM operated over 1,400 properties and 14 racetracks across Canada, the United States and Mexico. In this article, we will provide an overview of MIM as well as answer some frequently asked questions about the company.
MIM meaning in Toronto Stock Exchange in Business
MIM mostly used in an acronym Toronto Stock Exchange in Category Business that means MI Developments Incorporated (de-listed)
Shorthand: MIM,
Full Form: MI Developments Incorporated (de-listed)
For more information of "MI Developments Incorporated (de-listed)", see the section below.
Essential Questions and Answers on MI Developments Incorporated (de-listed) in "BUSINESS»TSX"
What services did MIM offer?
MIM offered a variety of services related to real estate development, management and leasing (residential, commercial and industrial). They also owned and operated 14 racetracks throughout Canada, USA and Mexico.
When did MIM de-list?
MIM de-listed in 2020 after more than four decades in business.
What factors led to the de-listing?
The primary factor behind the de-listing was decreasing revenues due to decreased attendance at their racing events combined with increasing operational costs. Other factors included changing market conditions owing to new technology such as legal online betting sites which further limited their visitor numbers.
What happened to their properties after they were de-listed?
After being de-listed, all of their properties were sold off or transferred to new owners. Some were re-purposed while others are currently undergoing renovation or redevelopment projects.
Are there any other companies similar to MIM?
Yes, there are still several large real estate companies that focus on development, management and leasing operations much like what MIM used to do prior to its de-listing. Examples include Oxford Properties Group (Canada), CBRE Group Inc (USA) and Klépierre (Europe).
Final Words:
MI Developments Incorporated was once one of the largest real estate and horse racing companies in North America until its 2020 de-listing due primarily to decreasing revenues combined with increasing operational costs. After being delisted all their properties were sold off or transferred to new owners while other companies have sprouted up that offer similar services as those previously provided by MIM.
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