Spin Off | TC ENERGY CORP | 2nd October 2024
On July 27, 2023, TC ENERGY CORP announced the board approval of its proposed plan to separate into two independent, publicly listed companies, spinning off its liquid transportation and storage business, SOUTH BOW CORP. Upon completion of the spin-off, TC ENERGY CORP shareholders will receive 0.2 of a common share in SOUTH BOW CORP for each common share of TC ENERGY CORP held. Shareholders approved the proposal at the special meeting on June 4, 2024. The spin-off is expected to become effective at the close of business on October 1, 2024 (ex-date of October 2, 2024). Upon completion of the spinoff, the shares of SOUTH BOW CORP are expected to be listed on the Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE) under the trading symbol SOBO. TC ENERGY CORP expects that SOUTH BOW CORP common shares will commence regular way trading on the NYSE on or about October 7, 2024, following the effectiveness of the Form 40F registration statement. TC ENERGY CORP common shares are expected to continue trading on the TSX and NYSE under TC ENERGY CORP current trading symbol TRP.
The treatment below will be applied to the following indices:
- The spin-off company SOUTH BOW CORP will be added to the Index according to the transaction terms.
- Effective Date (open): 02/10/2024
Solactive MLP & Energy Infrastructure Index
Solactive US Natural Gas Infrastructure Index NTR
Solactive US Natural Gas Infrastructure Index PR
Solactive US Natural Gas Infrastructure Index TR
Solactive GBS DM ex US Large & Mid Cap US Listings + US 1000 USD Index NTR
Solactive GBS DM ex US Large & Mid Cap US Listings + US 1000 USD Index PR
Solactive GBS DM ex US Large & Mid Cap US Listings + US 1000 USD Index TR