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.

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Big Banc Split Corp > Commentary on Seeking Alpha

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Post by Crakermanon Mar 21, 2016 11:03am

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Post# 24683323

Commentary on Seeking Alpha

The stock is at C$1.85 per share as of now (10:37 AM).

In other words, the market fears that the deal won't go through.

If you buy now, you are saying that either the deal is approved or there is a better offer out there.

There are no concentrated shareholders according to Morningstar. Most fled after the Albanian government froze the company's bank accounts last November. This is good news for Geo-Jade: there is a slim chance that a bloc of scattered shareholders will unite and say no.

On the other hand, long-term shareholders aren't happy right now... Which brings us back to my first argument: in my opinion, most of them bailed out last November.

Therefore I believe the offer will be approved.

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