CIBC Launches 5 New CDRs ("Canadian Depositary Receipts") on the NEO Exchange – Yahoo Finance

Expanded CDR lineup makes world investing simpler than ever for Canadian buyers – 35 CDRs now out there
TORONTO, November 25, 2022–(BUSINESS WIRE)–NEO is proud to welcome CIBC again to the NEO Alternate with a set of 5 new Canadian Depositary Receipts ("CDRs") to increase their present lineup to 35 world firms.
A made-in-Canada innovation for Canadian buyers and advisors, CDRs make it simple to put money into among the world's largest firms – in Canadian {dollars}. Supplied at a fraction of the worth per share of the underlying reference share, and with a built-in notional forex hedge, CDRs present buyers with reasonably priced entry to international shares whereas mitigating the forex danger related to world investing.
The 5 new CDRs out there for buying and selling on the NEO Alternate are listed under:
Honeywell Worldwide Inc. Canadian Depositary Receipts (CAD Hedged) – HON
AbbVie Inc. Canadian Depositary Receipts (CAD Hedged) – ABBV
Procter & Gamble Co. Canadian Depositary Receipts (CAD Hedged) – PG
CVS Well being Corp. Canadian Depositary Receipts (CAD Hedged) – CVS
United Parcel Service, Inc. Canadian Depositary Receipts (CAD Hedged) – UPS
"In lower than a yr and a half since launch, CDRs have attracted roughly $1.3 billion in AUM, with clear demand from retail buyers, portfolio managers, and monetary advisors," stated Elliot Scherer, Managing Director and International Head, Wealth Options Group at CIBC Capital Markets. "As we glance to make world investing simpler for our shoppers with this industry-first innovation, we proceed so as to add to our line up based mostly on sturdy investor suggestions."
The 5 new CDRs will add to the present lineup of 30 CDR tickers which can be found for buying and selling on the NEO Alternate, together with family names corresponding to Tesla, Amazon, Apple, VISA, and extra.
"With among the best-performing blue-chip shares available on the market throughout monetary companies, shopper items, healthcare and expertise, it’s no surprise buyers and their advisors are selecting to take a position by way of CDRs," added Erik Sloane, CRO of the NEO Alternate. "CDRs are the best and most intuitive manner for Canadians to entry the US public markets. It’s a real Canadian success story and we’re extraordinarily proud to be the itemizing venue of alternative for CIBC."
For extra details about CDRs, please go to www.neo.inc/en/companies/raising-assets/canadian-depositary-receipts.
The 5 latest CDRs launched by CIBC be a part of over 250 distinctive listings on the NEO Alternate, together with among the most progressive Canadian and worldwide development firms, Canadian Depositary Receipts, and ETFs from Canada’s largest ETF issuers. NEO constantly facilitates between 10% and 15% of all quantity traded in Canadian-listed firms and shut to twenty% of all quantity traded in Canadian ETFs. Click on right here for an entire view of all NEO-listed securities.
Concerning the NEO Alternate
The NEO Alternate is Canada’s Tier 1 inventory change for the innovation economic system, bringing collectively buyers and capital raisers inside a good, liquid, environment friendly, and service-oriented atmosphere. Absolutely operational since 2015 and bought by Cboe International Markets in 2022, NEO gives entry to buying and selling throughout all Canadian-listed securities on a degree taking part in discipline. NEO lists firms and funding merchandise in search of an internationally acknowledged inventory change that permits investor belief, high quality liquidity, and broad consciousness together with unfettered entry to market knowledge.
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