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Canadian Banc Corp Class A ( (TSE:BK) ) has issued an announcement.
Canadian Banc Corp. has completed the overnight marketing of a new issuance of its Preferred Shares (BK.PR.A), raising expected gross proceeds of approximately $103.2 million at an offering price of $10.32 per share, slightly below the previous TSX closing price of $10.38. Led by National Bank Financial, the offering is slated to close around January 16, 2026, subject to TSX approval, with net proceeds earmarked to expand or maintain the company’s portfolio of six leading Canadian bank stocks, supporting its mandate to deliver floating-rate monthly income and capital preservation for preferred shareholders through to its current December 1, 2028 termination date, which may be further extended.
More about Canadian Banc Corp Class A
Canadian Banc Corp. is a split share investment company listed on the TSX that provides investors with exposure to a portfolio consisting primarily of six major Canadian banks: Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada, The Bank of Nova Scotia, National Bank of Canada and The Toronto-Dominion Bank. Through its Preferred Shares, the company targets income-focused investors by offering cumulative preferential floating-rate monthly dividends within a defined range and aims to return the original issue price at or around its scheduled termination date, subject to potential extensions.
YTD Price Performance: -0.34%
Average Trading Volume: 197,766
Find detailed analytics on BK stock on TipRanks’ Stock Analysis page.