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 > When safe application was made

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Comment by ChupacabraBuenoon Jul 29, 2016 10:35am

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Post# 25095440

RE:When safe application was made

"In practice, SAFE approval is usually obtained within two weeks." according to nortonrosefullbright.com (link below). So it would seem that there has been a delay from the "usual" - or at least what was "usual" when they composed that webpage. Some posts here have alluded to a throttling of FX transactions by the Chinese for the purpose of exchange rate stabilization. https://www.nortonrosefulbright.com/knowledge/publications/62023/outbound-chinese-equity-investments-understanding-the-regulatory-approval-process

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