PrefBlog

Quadravest has announced:

Canadian Banc Corp. (the “Company”) is pleased to announce it has filed a preliminary short form prospectus with respect to an additional offering of its Preferred Shares. This offering is being led by National Bank Financial Inc.

The Preferred Shares are listed and posted for trading on the Toronto Stock Exchange (the “TSX”) under the symbol “BK.PR.A”. On December 21, 2016 the closing price of the Preferred Shares on the TSX was $10.56.

The authorized capital of the Company also consists of Class A Shares (the “Class A Shares”). On December 12, 2016 the Company declared a special capital gains dividend, payable partially in cash and partially in Class A Shares, to holders of Class A Shares of record on January 5, 2017. The special dividend will be payable on January 9, 2017, the same date the Preferred Shares will be issued under the short form prospectus. The number of Class A Shares being issued as a result of this special dividend will be equal to the number of Preferred Shares expected to be issued in the offering.

A copy of the preliminary short form prospectus will be available from National Bank Financial Inc.

BK.PR.A is tracked by HIMIPref™ but is relegated to the Scraps subindex on both volume and credit concerns.

Update, 2017-1-15: Just a few more shares:

Canadian Banc Corp. (the “Company”) is pleased to announce it has completed its Offering of 393,602 Preferred Shares at $10.35 per share for aggregate gross proceeds of $4,073,781. The Preferred Shares will trade on the Toronto Stock Exchange under the symbol BK.PR.A.

The authorized capital of the Company also consists of Class A Shares (the “Class A Shares”). The Company declared a special capital gains dividend, payable partially in cash and partially in Class A Shares, to holders of Class A Shares of record on January 5, 2017. The number of Class A Shares being issued as a result of this special dividend will be equal to the number of Preferred Shares issued in this offering.

This entry was posted on Thursday, December 22nd, 2016 at 11:13 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.