Tricon (TSX:TCN) eyes US IPO. How to buy the real estate stock?

2 min read | October 06, 2021 02:57 AM AEDT | By Raza Naqvi

Tricon (TSX:TCN) eyes US IPO. How to buy the real estate stock? — Image source: © Prykhodov/Megapixl.com

All you need to know about Tricon Residential IPO

Tricon Residential, which presently trades on the TSX, is looking to go up on the NYSE, most likely under the same stock symbol of 'TCN'.

The Canadian real estate company also said that it intends to change the denomination of the quarterly dividends paid from the Canadian loonie to US dollars.

Tricon Residential is also extending an overallotment option to its underwriters to fetch shares worth up to US$ 52.5 million.

Tricon Residential <a class='font-weight-bold' style='border-bottom: 2px dashed;' aria-label='https://kalkinemedia.com/ca/companies/tsx-tcn' href='https://kalkinemedia.com/ca/companies/tsx-tcn'>(TSX:TCN)</a> has filed for an IPO in the US.

Those interested in investing in this real estate player’s US shares could wait for the company to go up on the NYSE, or explore its pre-IPO share options.

Investors can also look into Tricon Residential’s existing shares available on the Toronto Stock Exchange (TSX).

Also Read: Propel Holdings IPO: How to buy this Canadian fintech firm's stock?

Bottom line

Established in 1988, Tricon Residential is known to have emerged as of the leading rental housing companies in Canada and the US.

As per the company website, Tricon Residential owns more than 33,000 multi-family and single-family homes across both the US and Canada, which are managed via an integrated digital platform.

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