06:37:24 EDT Fri 17 May 2024
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Evolve Nasdaq Technology to trade on TSX July 12

2023-07-10 16:27 ET - New Listing

The Toronto Stock Exchange reports that Evolve Nasdaq Technology Index Fund will be listed at 5:01 p.m. on July 11, 2023, for trading at the open on July 12, 2023. According to the TSX, there will be 50,000 hedged Canadian-dollar-denominated units, 50,000 unhedged Canadian-dollar-denominated units and 50,000 unhedged U.S.-dollar-denominated units of the exchange-traded fund (ETF) issued and outstanding, with no securities reserved for issuance. The hedged Canadian-dollar-denominated units will trade under the symbol QQQT and with Cusip No. 30054M 20 2, the unhedged Canadian-dollar-denominated units will trade under the symbol QQQT.B and with Cusip No. 30054M 30 1, and the unhedged U.S.-dollar-denominated units will trade under the symbol QQQT.U and with Cusip No. 30054M 10 3.

The TSX reports that the ETF seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Nasdaq100 Technology Sector Adjusted Market-Cap Weighted Index or any successor thereto. According to the TSX, the ETF expects to pay cash distributions on its units, if any, on a quarterly basis in the currency in which the units are denominated. The ETF's manager and trustee is Evolve Funds Group Inc., its transfer agent and registrar is TSX Trust Company at its principal office in Toronto, and its fiscal year-end is Dec. 31.

As stated in its prospectus dated July 4, 2023, the ETF is issuing 50,000 hedged units at $20 (Canadian) per unit, 50,000 unhedged units at $20 (Canadian) per unit and 50,000 unhedged units at $20 (U.S.) per unit in its initial public offering. It expects to close the offering on July 11, 2023. The designated market-maker is National Bank Financial Inc.

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