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Brookfield Asset Management Ltd
Symbol BAM
Shares Issued 444,252,956
Close 2024-11-01 C$ 74.25
Market Cap C$ 32,985,781,983
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Globe says Brookfield confirms move to New York

2024-11-04 07:49 ET - In the News

Also In the News (C-BN) Brookfield Corp

The Globe and Mail reports in its Saturday edition that Brookfield Asset Management has relocated its head office to New York as part of a corporate overhaul designed to attract more shareholders by listing its shares on additional stock indices. The Globe's James Bradshaw writes that the company confirmed it is moving ahead with a share exchange to make all its shares publicly traded while maintaining its corporate parent's ownership at 73 per cent. Brookfield stated that these changes will not affect the operations, strategic plans, or the tax treatment of dividends for Brookfield Asset Management or Brookfield Corp. The company will retain its Canadian incorporation and listing on the Toronto Stock Exchange. This restructuring follows a 2022 spinoff that increased public shares from 25 per cent to 27 per cent. Brookfield Corp. plans to exchange its interest for new shares, keeping control as long as it maintains a majority of voting shares. The market capitalization of Brookfield Asset Management could rise to approximately $85-billion (U.S.) once all its shares are publicly traded. The share exchange requires shareholder approval and Brookfield has called a special meeting on Dec. 20 to hold a vote.

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