Expanded CDR lineup provides more opportunities for Canadians
to invest in global companies
TORONTO, Feb. 12,
2024 /CNW/ - Today CIBC announced that seven new
Canadian Depositary Receipts ("CDRs") will be listed on Cboe Canada
and available for trading on February
15. Introduced to investors over two years ago, CIBC will
have a total of 54 CDRs available in market.
CDRs make it easy to invest in many of the world's largest
companies – in Canadian dollars. Offered at a fraction of the price
per share of the underlying reference share, and with a built-in
notional currency hedge, CDRs provide investors with affordable
access to US-listed stocks while mitigating the currency risk
associated with global investing.
"Since launch, investors have shown they are looking to
diversify their portfolios and get exposure to global companies,"
said Christian Exshaw, Managing
Director and Head, CIBC Global Markets and Direct Financial
Services. "We look forward to furthering our CDR offering,
developing innovative solutions that address investor needs."
The seven new CDRs are listed below with their Cboe Canada
ticker symbols:
- BlackRock Canadian Depositary Receipts (CAD Hedged) – BLK
- Constellation Brands Canadian Depositary Receipts (CAD Hedged)
– STZ
- Deere Canadian Depositary Receipts (CAD Hedged) – DEER
- lululemon Canadian Depositary Receipts (CAD Hedged) – LULU
- Palo Alto Networks Canadian Depositary Receipts (CAD Hedged)
– PANW
- ServiceNow Canadian Depositary Receipts (CAD Hedged) –
NOWS
- Thermo Fisher Canadian Depository Receipts (CAD Hedged) -
TMO
These seven will add to the existing lineup of CDRs which are
available for trading on Cboe Canada.
The Prospectus Supplement for these latest Series of CDRs has
been filed on SEDAR+ at www.sedarplus.ca. For more information
about CDRs, please visit https://cdr.cibc.com.
About CIBC
CIBC is a leading North American financial institution with 13
million personal banking, business, public sector and institutional
clients. Across Personal and Business Banking, Commercial Banking
and Wealth Management, and Capital Markets businesses, CIBC offers
a full range of advice, solutions and services through its leading
digital banking network, and locations across Canada, in
the United States and around the world. Ongoing news releases
and more information about CIBC can be found
at www.cibc.com/ca/media-centre.
SOURCE CIBC