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

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

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

  • Tricon Residential is looking to go public in the US.
  • Established in 1988, Tricon Residential has emerged as of the leading rental housing companies in Canada and the US.
  • Tricon Residential owns more than 33,000 multi-family and single-family homes across Canada and the US.

Tricon Residential Inc (TSX:TCN) said on Tuesday, October 5, that it is looking to put up its shares for trading in US markets.

The real estate company, which owns and operates rental houses, said that it has launched a marketed public offering of 26.3 million shares for a price of US$ 13.3 each, which is the converted last close of its shares on the TSX.

The selling of 26.3 million shares, Tricon Residential said, would generate around US$ 350 million in the initial public offering (IPO).

Also Read: Nuvei IPO: How to buy the Canadian fintech stock as it plans US debut?

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 (TSX: TCN) has filed for an IPO in the US.

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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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