North American Financial 15 Split Corp T.FFN

Trading Halted

[fredym99]

Just halted trading on FFN.

[fredym99]

IIROC Trading Halt - FFN Jun 24, 2021 TORONTO, June 24, 2021 /CNW/ - The following issues have been halted by IIROC: Company: North American Financial 15 Split Corp. TSX Symbol: FFN All Issues: Yes Reason: Pending News Halt Time (ET): 3:16 PM IIROC can make a decision to impose a temporary suspension (halt) of trading

[alkhor]

Here's why TORONTO, June 24, 2021 (GLOBE NEWSWIRE) --  North American Financial 15 Split Corp. (the “Company”) is pleased to announce it will undertake an offering of Preferred Shares and Class A Shares of the Company. The offering will be led by National Bank Financial Inc. The Preferred Shares will be offered at a price of $10.10 per Preferred

[paracelcius]

What happen after ? 

[mouserman]

In normal times the FFN commons will sell off, particularly because they trade at a premium, the offering was at 7.40 while the stokc hit 7.71 today, and underwriters get shares in the offering at a discount, usually between 5 and 10%  below the offering price.  BUT of late DGS did an offering, didnt dive down, and the big shortsellers were forced to cover nd send the stock up, and

[EdPaquette]

FFN must be jealous of the DGS offering? 

[paracelcius]

I just want what happen with  the price of my shares and What arrive with it? 

[JohnWalker]

Le cours de l'action chutera entre 7,30 $ et 7,50 $ pendant environ 30 jours. Finalement, ils rcupreront la valeur liquidative, plus une prime d'environ 10 %.   Qu'obtiendrez-vous avec l'offre? Un gros zro, mais vous recevrez des dividendes le 10 juillet si vous ne vendez pas.  

[paracelcius]

on the quadravest website the net asset value of the share is $16.60, if I don't sell my shares you are telling me that they are worth $0 I must not understand your explanation which seems very clear though!!!  Just for you though it's the first time I'm confronted with this kind of offer I didn't buy this kind of stock before, so if you could be more precise in your

[JohnWalker]

The net asset value you see on the Quadrevest website is the net asset value for ONE UNIT. A unit consists of one common share ( Class A = FFN ) PLUS one preferred share (FFN.PR). The preferred share always has a nominal value of $10.00. That leaves $16.60-$10.00=$6.60 as the net asset value of your common share. The difference between $6.60 and todays trading price of $7.71 is called the PREMIUM.

[JohnWalker]

Nahhh, they've been planning this for longer than the DGS shareoffering was announced. When we saw the second share offering within 75 days (2021/02/09 and then again 2021/04/26) for DFN the writing was on the wall for FFN and I've been predicting this for a month at least. No big deal, I will hold mine (have them in both margin and TFSA accounts) and collect the dividends gladly. If they