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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Canadian Banc Corp | TSX:BK | Toronto | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.08 | -0.74% | 10.76 | 10.76 | 10.78 | 10.85 | 10.73 | 10.85 | 105,496 | 20:59:54 |
The offering is being led by National Bank Financial Inc.
The sales period of the overnight offering has now ended.
The offering is expected to close on or about January 31, 2023 and is subject to certain closing conditions including approval by the TSX.
The Preferred Shares are being offered at a price of $10.00 per Preferred Share to yield 7.95% and the Class A Shares are being offered at a price of $13.75 per Class A Share with a target yield of 14.47%.
The closing price on the TSX of each of the Preferred Shares and the Class A Shares on January 24, 2023 was $10.14 and $14.09, respectively.
The net proceeds of the offering will be used by the Company to invest in a portfolio of six publicly traded Canadian Banks as follows:
Bank of Montreal | Canadian Imperial Bank of Commerce | Royal Bank of Canada |
The Bank of Nova Scotia | National Bank of Canada | The Toronto-Dominion Bank |
The Company’s investment objectives are to:
Preferred Shares:
Class A Shares:
A prospectus supplement to the Company’s short form base shelf prospectus dated June 22, 2021, as amended May 30, 2022, containing important detailed information about the Preferred Shares and the Class A Shares being offered will be filed with securities commissions or similar authorities in all provinces of Canada. Copies of the prospectus supplement and the short form base shelf prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the agents listed above. There will not be any sale or any acceptance of an offer to buy the securities being offered until the prospectus supplement has been filed with the Securities Commissions or similar authorities in each of the provinces of Canada.
Investor Relations: 1-877-478-2372Local: 416-304-4443www.canadianbanc.cominfo@quadravest.com
1 Year Canadian Banc Chart |
1 Month Canadian Banc Chart |
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