CIBC Launches Vertiv CAD-Hedged Depositary Receipt on TSX Among 15 New Listings
VRT•CIBC Capital Markets and Toronto Stock Exchange closed the TSX market to celebrate listing of 15 new Canadian Depositary Receipts, including a CAD-hedged Vertiv depositary receipt. The CAD-hedged depositary receipt provides Canadian investors currency protection and fractional share exposure to Vertiv’s intraday performance on the TSX.
1. Market Close and Listing Event
CIBC Capital Markets and TSX management closed the TSX market on May 14 to mark the listing of 15 new Canadian Depositary Receipts, including the CAD-hedged Vertiv depositary receipt.
2. CAD-Hedged Depositary Receipt Structure
The CAD-hedged depositary receipt allows investors fractional ownership of Vertiv shares in Canadian dollars with built-in currency hedging and tracks the intraday performance of Vertiv stock.
3. Investor Implications for Vertiv
The new depositary receipt could expand Vertiv’s investor base in Canada by enhancing liquidity and offering a more accessible and cost-effective approach to diversify portfolios with Vertiv exposure.
