Big Banc Split Corp.
$70,000,000.00
3,500,000.00 Securities at $10.00
Initial Public Offering - Closed - Friday, June 26, 2020
Company Description
Big Banc Split Corp. is a mutual fund corporation created to invest on an approximately equally-weighted basis in a portfolio of equity securities of the following publicly traded Canadian banks: Bank of Montreal; Canadian Imperial Bank of Commerce; National Bank of Canada; Royal Bank of Canada; The Bank of Nova Scotia; and The Toronto-Dominion Bank. Purpose Investments Inc. will act as the manager, portfolio manager and promoter of the Company and will provide all administrative services required by the Company.
| Address: |
130 Adelaide Street West, Suite 3100, P.O. Box 109 Toronto, Ontario, M5H 3P5 Canada |
|---|---|
| Phone Number: | 416 583-2271 |
| Fax Number: | 416 583-3851 |
| Website: |
| Industry: | Structured Products |
|---|---|
| Closing Date: | Friday, June 26, 2020 |
| 1st Day of Trading: | Friday, June 26, 2020 |
| Primary Symbol: | BNK |
| Exchange: | Toronto |
Proceeds
The net proceeds of the offering will be used to purchase the securities for the portfolio.
| Gross Proceeds: | $70,000,000.00 |
|---|---|
| Underwrting Fees: | $2,800,000.00 |
| Expense Offering: | $490,000.00 |
| Net Proceeds: | $66,710,000.00 |
| Lead Underwriter: | National Bank Financial Inc. |
|---|---|
| Other Underwriter(s): |
RBC Dominion Securities Inc. CIBC World Markets Inc. BMO Nesbitt Burns Inc. TD Securities Inc. Scotia Capital Inc. Desjardins Securities Inc. Raymond James Ltd. Haywood Securities Inc. Hampton Securities Limited Industrial Alliance Securities Inc. Canaccord Genuity Corp. PI Financial Corp. Manulife Securities Incorporated Richardson GMP Limited Mackie Research Capital Corporation Echelon Wealth Partners Inc. |
Performance
| 1 day | 1 week | 1 month | 6 months | Inception | |
|---|---|---|---|---|---|
| Recent Performance | 0.00 % | -7.00 % | |||
| Post IPO Performance | 0.50 % | 0.50 % | -66.70 % |
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