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Brompton Split Banc Corp. issues up to $55.3 million in preferred shares

Brompton Split Banc Corp., an Ontario-incorporated mutual fund corporation, has filed a prospectus supplement dated February 27, 2026, qualifying the distribution of up to 5,319,293 preferred shares at a price of $10.40 per share, for maximum gross proceeds of $55,320,647. The preferred shares trade on the Toronto Stock Exchange under the symbol "SBC.PR.A."

The company invests on an approximately equally weighted basis in common shares of Canada's six largest banks: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, The Bank of Nova Scotia, and The Toronto-Dominion Bank. Up to 10% of portfolio assets may be allocated to global financial companies at the discretion of the manager, Brompton Funds Limited.

Net proceeds to the company from the maximum offering are estimated at $53,501,028 after deducting the agents' fee of $1,659,619 and estimated expenses of $160,000. The company has also granted the agents a 30-day over-allotment option for up to 797,893 additional preferred shares, which would bring total gross proceeds to $63,618,734 if fully exercised.

RBC Dominion Securities Inc. and CIBC World Markets Inc. serve as lead agents, alongside 13 additional dealers. Legal counsel for the company is Osler, Hoskin & Harcourt LLP, while Stikeman Elliott LLP acts on behalf of the agents. The preferred shares carry a Pfd-3 rating from Morningstar DBRS.

The offering closed on March 6, 2026.

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Public/Private Offering
Banking/Finance
$ 55,320,647
Closed
06 March 2026