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Big Banc Split Corp T.BNK

Alternate Symbol(s):  T.BNK.PR.A

The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.05 per Preferred Share ($0.60 per annum or 6.0% per annum on the issue price of $10.00 per Preferred Share) until November 30, 2023 (the Maturity Date) and to return the original issue price of $10.00 to holders on the Maturity Date. The Company will invest on an approximately equally-weighted basis in Portfolio Shares 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. The Portfolio will generally be rebalanced on a quarterly basis, starting on September 30, 2020, so that as soon as practicable after each calendar quarter the Portfolio Shares will be held on an approximately equal weight basis.


TSX:BNK - Post by User

Big Banc Split Corp
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Post by LucasKnighton Mar 21, 2016 10:20am
256 Views
Post# 24683050

$2.20 takeover price

$2.20 takeover priceCorrect me if i am wrong...but the takeover price is currently @ $2.20 a share. Currently trading at 20% discount?? 

This firm has resource projects in Albania....NOT CANADA. 

Buyer is Geo-Jade Petroleum corporation...Market cap of $4.8 Billion USD. It is no ordinary oil and gas firm from China. 

Invested 525 million USD in Kazakh state owned oil firm - Maten Petroleum - and has a net profit margin now of 30%.

They have producing and developing projects in Russia [pre caspian and caspian basins] and now probably Albania.

Management have also increased their shareholding...

As such...this deal will go through. Perhaps there is a discounted rate now..but it should easily go over $2.10 shortly.

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Dealroom for high-potential pre-IPO opportunities