Dual Listing and Initial Public Offering in the US TORONTO, Oct. 5, 2021 /CNW/ - Tricon Residential Inc. ("Tricon" or the "Company") (TSX: TCN), an owner and operator of single-family rental homes and multi-family rental apartments in the United States and Canada, announced today that it has launched a marketed public offering of common shares of Tricon ("Common Shares") in the United States and Canada (the "Offering"), representing Tricon's initial public offering in the United States, as well as a concurrent private placement of Common Shares (the "Private Placement") to Blackstone Real Estate Investment Trust, Inc. ("BREIT").
In connection with the initial public offering in the United States, Tricon has filed an application to list the Common Shares on the New York Stock Exchange (the "NYSE") under the symbol "TCN". Trading of the Common Shares is expected to commence on the NYSE following pricing of the Offering. The Common Shares will continue to trade on the Toronto Stock Exchange (the "TSX") under the symbol "TCN".
A total of approximately US$395 million of Common Shares will be offered by Tricon for sale in the Offering and the Private Placement. The Offering and the Private Placement will be priced in the context of the market, with the price (the "Offering Price") and total size of the Offering and the Private Placement to be determined at the time of entering into an underwriting agreement for the Offering (the "Underwriting Agreement").