Horizons ETFs sets unit consolidation ratio
Horizons Exchange Traded Funds has set the consolidation ratio for the previously announced consolidation of units of the Horizons US Dollar Currency ETF, which is listed on the Toronto Stock Exchange.
After the TSX closed for trading on 4 January, the units of the ETF will be consolidated based on a consolidation ratio of 1:1.009601, i.e. for every 1.009601 pre-consolidation units outstanding, one consolidated unit will be issued, such that the net asset value of the units of the ETF traded on the TSX under the ticker symbol DLR.U will now equal USD10.00 USD after the consolidation.
The units of the ETF will begin trading on a consolidated basis on 7 January, the effective date of the consolidation. No fractional units will be issued in connection with the consolidation and, in the event that a unitholder would otherwise be entitled to receive a fractional unit upon the unit consolidation, such fraction will be rounded down to the nearest whole number.
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