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Brookfield Asset Management Ltd
Symbol BAM
Shares Issued 443,823,447
Close 2024-09-10 C$ 58.11
Market Cap C$ 25,790,580,505
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Globe says Brookfield Asset mulls head office move

2024-09-11 07:25 ET - In the News

Also In the News (C-BN) Brookfield Corp

The Globe and Mail reports in its Wednesday edition that Brookfield Asset Management is considering moving its head office to New York as it seeks to expand the pool of potential investors in its stock. The Globe's James Bradshaw writes that the Toronto asset manager floated a series of changes to investors at a presentation in New York on Tuesday. They would be the company's next steps to broaden its access to capital markets, after a 2022 spinoff that listed 25 per cent of its shares in public markets. If Brookfield moves ahead with the plan, it could choose to reregister its asset manager's head office in New York -- but keep its Canadian incorporation. The company would also undertake a share exchange that would make all of the asset manager's shares publicly traded. Parent entity Brookfield Corp. owns nearly three-quarters of the asset manager's stock through an unlisted holding company, while the other quarter is publicly traded. Brookfield would swap that stake for public shares in BAM, keeping its underlying ownership unchanged. That would mean the market capitalization of BAM would reflect the full value of the business -- about $70-billion (U.S.) -- instead of roughly one-quarter of that amount currently.

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