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Horizons Copper Producers to trade on TSX May 17

2022-05-13 19:24 ET - New Listing

The Toronto Stock Exchange reports that Horizons Copper Producers Index ETF will be listed at 5:01 p.m. on May 16, 2022, for trading at the open on May 17, 2022. According to the TSX, there will be 200,001 Class A units of the exchange-traded fund (ETF) issued and outstanding, with no securities reserved for issuance. The units will trade under the symbol COPP, in Canadian dollars and with Cusip No. 44057D 10 1.

The TSX reports that the ETF seeks to replicate, to the extent possible and net of expenses, the performance of an index that is designed to provide exposure to the performance of companies active in copper ore mining that are listed on select North American stock exchanges. Currently, the ETF seeks to replicate the performance of the Solactive North American Listed Copper Producers Index, net of expenses. The ETF seeks to hedge any U.S.-dollar portfolio exposure back to the Canadian dollar at all times.

According to the TSX, the ETF will pay distributions on its units, if any, on an annual basis at the discretion of the manager. The ETF's manager is Horizons ETFs Management (Canada) Inc., its transfer agent and registrar is TSX Trust Company at its principal office in Toronto, and its fiscal year-end is Dec. 31. As stated in its prospectus dated May 9, 2022, the ETF will issue 200,001 units at $25 per unit in its initial public offering. It expects to close the offering before the open on May 17, 2022.

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