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TORONTO, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Ninepoint Partners LP ("Ninepoint"), on behalf of Canadian Large Cap Leaders Split Corp. (the "Company"), is pleased to announce the Company has completed its initial public offering (the "Offering") of 1,850,633 preferred shares ("Preferred Shares") and 1,850,633 class A shares ("Class A Shares") for total gross proceeds of approximately $46 million. The Company has granted the agents an over-allotment option, exercisable for a period of 30 days from today's date, to purchase up to an additional 15% of the number of Preferred Shares and Class A Shares issued in today's closing. The Preferred Shares and Class A Shares will commence trading today on the Toronto Stock Exchange under the symbols "NPS.PR.A" and "NPS", respectively.
The Company will invest in an initially equally-weighted portfolio comprised primarily of equity securities of Canadian Dividend Growth Companies (as defined below), selected by the portfolio manager, that at the time of investment and immediately following each periodic reconstitution and rebalancing: (i) are listed on a Canadian exchange; (ii) pay a dividend; (iii) generally have a market capitalization of at least $10 billion; (iv) have options in respect of its equity securities that, in the opinion of the portfolio manager, are sufficiently liquid to permit the portfolio manager to write options in respect of such securities; and (v) have a history of dividend growth or, in the portfolio manager's view have high potential for future dividend growth ("Canadian ...