DBRS has announced it:
has today discontinued its provisional rating on the Preferred Shares offered by DiversiCAPITAL Global Dividend Split Corp. (the Company) because the minimum offering of shares of the Company was not achieved.
According to the Confidential Information Memorandum:
This memorandum is confidential and for the use of selling group members only. The contents are not to be reproduced or distributed to the public or press.
Oops, I didn’t mean to quote that part of the confidential information memorandum I found on the web via google, I meant to quote this part:
Preferred Shares: Approximately $40 million. Class A Shares: Approximately $60 million.
…
The Company has been created to provide investors with an opportunity to gain exposure to an actively managed, globally-diversified portfolio comprised primarily of equity securities of dividend-paying issuers selected by the Manager. The Company will invest in dividend-paying equity securities (“Dividend-Paying Equities”) of issuers (“Dividend-Paying Issuers”) that the Manager believes are trading at a discount to their intrinsic value and have strong cash flows and the ability to grow their dividends. Investors in the Company’s Class A Shares will receive leveraged exposure to the performance of the Dividend-Paying Issuers, including increases or decreases in the value of their equity securities and increases or decreases in the dividends paid on such securities. Investors in the Company’s Preferred Shares will receive attractive quarterly distributions on a fixed, cumulative and preferential basis.
diversiCAPITAL is a wholly-owned subsidiary of DundeeWealth Inc.