11:37:20 EDT Sat 01 Oct 2022
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Converge Technology Solutions Corp
Symbol CTS
Shares Issued 210,457,581
Close 2021-09-07 C$ 12.85
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Globe says Bombardier returns to S&P/TSX composite

2021-09-08 09:05 ET - In the News

See In the News (C-BBD) Bombardier Inc

The Globe and Mail reports in its Wednesday edition that Bombardier is returning to Canada's primary stock index after a year when its shrunken value made it too small for inclusion. The Globe's David Milstead writes that S&P Dow Jones Indices, manager of the S&P/TSX Composite Index, said Bombardier and seven other companies will join before the open Sept. 20. Bombardier will be joined by Birchcliff Energy; Converge Technology; cloud-computing company Docebo; K92 Mining; MTY Food Group; Telus International; and Well Health Technologies. S&P Dow Jones Indices cut Bombardier from both the composite and the S&P/TSX 60 in June, 2020, after its stock price struggled to remain above $1. The stock fell about 75 per cent over the first half of that year. The stock is now pushing $2, and has a market capitalization of more than $4.6-billion. That means it remains too small for the S&P/TSX 60. Dow Jones Indices uses "float" -- the value of shares that are not held by insiders and therefore trade frequently and are easily available to the public -- to judge whether a company should be included in its indexes. Most members of the S&P/TSX 60 have a float capitalization above $10-billion.

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