Investment solutions provider Ninepoint Partners, on Wednesday, said Canadian Large Cap Leaders Split Corp filed a preliminary prospectus in connection with an initial public offering of preferred and class A shares.
The company said Canadian Large Cap Leaders filed its prospectus on Tuesday, and it will invest in an initially equally-weighted portfolio comprised primarily of equity securities of Canadian dividend growth companies, selected by Ninepoint, at the time of investment, who will act as its portfolio manager.
They will be listed on a Canadian exchange to be traded, will pay dividends at set intervals, have a market capitalization of at least $10 billion, and have options in respect of their equity securities that, in the opinion of the portfolio manager the company added.
Ninepoint Partners, which is currently acting as the manager of Canadian Large Cap Leaders said that preferred shares will be offered at a price of $10 per share, while class A shares will be offered at $15 per share.
The investment managing firm said the offering is being made by a group of agents led by RBC Capital Markets, which includes CIBC Capital Markets, National Bank Financial, Scotiabank, BMO Capital Markets, Canaccord Genuity, and a few others.
Ninepoint Partners is a company that manages unique alternative investment solutions that offer investors the benefits of better diversification, it is an employee-owned firm that serves as an investment advisor and institutional investor communities with over $8 billion in assets and institutional contracts.
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