Canaccord Genuity Invests in Employee Ownership

Canaccord Genuity (TSE:CF) has released an update.

Canaccord Genuity Group Inc. has announced a private placement issuing $110 million worth of convertible debentures to raise funds for a long-term employee ownership plan and to support company growth. The debentures, with a 7.75% interest rate and a five-year maturity, will finance a loan for employees to acquire a 9.7% stake in the company. This strategic move aims to align the interests of employees with shareholders and fuel Canaccord’s next growth phase while maintaining its compensation ratios.

For further insights into TSE:CF stock, check out TipRanks’ Stock Analysis page.