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CIBC Launches 5 New CDRs (“Canadian Depositary Receipts”) on the NEO Exchange

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TORONTO–()–NEO is proud to welcome CIBC back to the NEO Exchange with a suite of five new Canadian Depository Receipts (“CDRs”) to expand its existing lineup to 35 global companies.

A made in Canada innovation for Canadian investors and advisors, CDRs make it easy to invest in some of the world’s largest companies, in Canadian dollars. Offered at a fraction of the per-share price of the underlying reference stock and with a built-in notional currency hedge, CDRs provide investors with convenient access to foreign equities while mitigating the currency risk associated with global investing.

The five new CDRs available for trading on NEO Exchange are listed below:

  • Honeywell International Inc. Canadian Depository Receipts (CAD Hedged) – ON

  • AbbVie Inc. Canadian Depositary Receipts (Covered in CAD) – ABBV

  • Procter & Gamble Co. Canadian Depository Receipts (Covered in CAD) – PG

  • CVS Health Corp. Canadian Depositary Receipts (CAD Hedged) – cvs extension

  • United Parcel Service, Inc. Canadian Warehouse Receipts (CAD Hedged) – UPS

“In less than a year and a half since launch, CDRs have attracted approximately $1.3 billion in AUM, with clear demand from retail investors, portfolio managers and financial advisors,” said Elliot Scherer, managing director Delegate and Global Head, Wealth Solutions Group at CIBC Capital Markets. “As we look to make global investing easier for our clients with this industry-first innovation, we continue to add to our range based on strong investor feedback.”

The five new CDRs will add to the current range of 30 CDR tickers available for trading on NEO Exchange, including household names such as Tesla, Amazon, Apple, VISA and more.

“With some of the best-performing blue-chip stocks on the market in financial services, consumer staples, healthcare and technology, it’s no wonder investors and their advisors choose to invest via CDR,” added Erik Sloane , CRO of NEO Exchange. “CDRs are the easiest and most intuitive way for Canadians to access US public markets. It is a true Canadian success story and we are extremely proud to be the listing venue of choice for CIBC.”

For more information on CDRs, visit www.neo.inc/en/services/raising-assets/canadian-depositary-receipts.

The five most recently launched CDRs from CIBC join over 250 unique listings on NEO Exchange, including some of the most innovative Canadian and international growth companies, Canadian depositary receipts, and ETFs from Canada’s largest ETF issuers. NEO consistently facilitates between 10% and 15% of all volume traded in Canadian listed companies and nearly 20% of all volume traded in Canadian ETFs. Click here for a complete view of all NEO listed stocks.

About the NEO Exchange

The NEO Exchange is Canada’s tier-one exchange for the innovation economy, bringing together investors and fundraisers in a fair, liquid, efficient and service-oriented environment. Fully operational since 2015 and acquired by Cboe Global Markets in 2022, NEO provides access to trading on all Canadian-listed stocks on a level playing field. NEO lists companies and investment products seeking an internationally recognized stock exchange that enables investor confidence, quality liquidity and broad awareness, including unrestricted access to market data.

Connect with NEO: Website | LinkedIn | Chirping | Instagram | Facebook

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Written by Natalia Chi

Chicago Popular; Chicago breaking news, weather and live video. Covering local politics, health, traffic and sports for Chicago, the suburbs and northwest Indiana.

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