Source Rock Royalties IPO: How to buy Calgary-based SRR stock?

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 Source Rock Royalties IPO: How to buy Calgary-based SRR stock?
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Highlights

  • Source Rock Royalties Ltd. is looking to list its shares on the TSX Venture Exchange (TSXV).
  • The energy royalties' firm hopes to raise a modest C$ 10 million.
  • Source Rock has not revealed the price range and the number of shares, and it could file a revised prospectus with the Canadian Securities Administrators.

Calgary-based energy royalties firm Source Rock Royalties Ltd. wants to go public in the Canadian equities market.

Source Rock Royalties' public debut would be a rare initial public offering (IPO), as it is a junior Canadian energy company. The energy royalties' firm hopes to raise a modest C$ 10 million.

The company has filed a preliminary prospectus with the regulatory authorities, and Acumen Capital Finance and PI Financial Corp. will be the leading underwriters for the IPO.

How to buy Source Rock Royalties stock?


Source Rock Royalties Ltd. is looking to list its shares on the TSX Venture Exchange (TSXV) and trade under the stock symbol SRR.

Source Rock has not revealed the price range and the number of shares, and it could file a revised prospectus with the Canadian Securities Administrators.

Also Read: TSX up on base metals & energy as oil prices climb higher, loonie gains

Source Rock IPO
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It is not clear when the energy royalties company will begin trading on TSXV, and to buy the SRR stock, stock market traders will have to wait for Source Rock Royalties to start selling its shares.

There's no communication from the company on offering its pre-IPO stock, and this information could come at a later stage if Source Rock Royalties gives this option to retail investors.

Bottom line


Canadian National Railway Company (TSX:CNR) backs Source Rock Royalties through its investment arm.

CN Canadian Master Trust Fund, owned by CN Rail, is the energy royalties firm's shareholder and reportedly own around 26 per cent of the common stock.

Source Rock values itself between the range of C$ 25.6 and C$ 41.7 million. If the IPO happens, SRR would be a micro-cap stock, and interested investors should research before investing in the stock.

Also Read: Suncor (TSX:SU) & TC Energy (TSX:TRP): 2 oil & gas stocks to buy now

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