New Canadian Dollar Listing Invesque Inc. Announces New Canadian Dollar Listing on Toronto Stock Exchange |
TORONTO, Sept. 18, 2019 /CNW/ - Invesque Inc. ("Invesque" or the "Company") (TSX: IVQ.U) today announced the introduction of a Canadian dollar listing of its common shares on the Toronto Stock Exchange ("TSX").
Effective September 20, 2019, the shares will commence trading on the TSX in Canadian dollars under the symbol "IVQ". The shares will continue to trade in U.S. dollars under the existing symbol "IVQ.U".
The shares to be traded under the symbol IVQ will have the same CUSIP number as the shares trading under the symbol IVQ.U. Accordingly, the number of issued and outstanding shares will not change. The Company currently has 54,283,458 shares outstanding.
The Company's dividends will continue to be paid to shareholders in U.S. dollars for both the IVQ.U and IVQ listings.
"We are excited to introduce our Canadian dollar listing to provide additional flexibility for our Canadian investors to transact in their domestic currency," said Scott White, the Company's Chairman and Chief Executive Officer. "We have seen significant interest in a Canadian dollar listing from existing and potential investors. We are optimistic that the listing will lead to increased liquidity and trading activity."
Shareholders should consult their financial advisors for more information regarding the dual currency listing, including their ability to exchange U.S. dollar denominated shares for Canadian dollar denominated shares.
Similar to the situation with HOT.UN and HOT.U, same CUSIP, but with IVQ there are no foreign taxes to deal with, so holding in a TFSA will result in no currency conversion of the dividend.