TORONTO, Sept. 28, 2026 /CNW/ -- CIBC today announced that it intends to split (the "CDR Splits") two series of its Canadian Depositary Receipts (the "Splitting CDRs") effective at the close of business October 15, 2026.
The CDR Splits will be payable on October 15, 2026 (the "Payment Date") to holders of record of the Splitting CDRs on October 14, 2026 (the "Record Date"). The Splitting CDRs will trade on a "due bill" basis, from the opening of the Toronto Stock Exchange (the "TSX") on October 14, 2026, until the close of the TSX on October 15, 2026, inclusive (the "due bill period"). The affected CDRs will begin trading on the TSX on a split-adjusted basis on October 16, 2026.
After the close of trading on October 15, 2026 on the TSX, the shares of the Splitting CDRs will be split based on the ratios set out below:
TSX Ticker Symbol | CDR Series | Closing Price (Sept 25, 2026) | Forward Split Ratio |
AMD | Advanced Micro Devices Canadian Depositary Receipts (CAD Hedged) | $113.55 | 7-for-1 |
CRWD | CrowdStrike Canadian Depositary Receipts (CAD Hedged) | $80.52 | 5-for-1 |
The CDR Splits will take effect by way of a subdivision of all of the Splitting CDRs that are outstanding after the close of trading on October 15, 2026, with each outstanding Splitting CDR automatically being split into the number of post-split affected CDRs as indicated in the table above.
CIBC confirms that, in each case, the product of the CDR Ratio for a series of Splitting CDRs and the number of CDRs outstanding will be unchanged by the CDR Splits. Accordingly, the CDR Splits are not expected to have any economic impact on the value of investors' affected CDR positions.
CIBC has obtained an opinion from Torys LLP that the CDR Splits would not have any material adverse consequences under Canadian federal income tax laws to holders of affected CDRs resident in Canada.
CIBC reserves the right to cancel or amend this CDR action if CIBC deems it appropriate to do so before October 13, 2026.
The Prospectus Supplement in respect of the Splitting CDRs has been filed on SEDAR+ at www.sedarplus.ca. For more information about CDRs, please visit https://cdr.cibc.com.
CDR Holder Information
Holders of CDRs do not need to take any action in connection with a CDR split. CDR holders' brokerage accounts are expected to be automatically updated to reflect the CDR split. A CDR holder's broker may take a number of days to reflect the additional CDRs in their account. However, the CDR holder is expected to be able to trade the affected CDRs during this time. If a CDR holder wishes to do so, CIBC recommends they contact their broker to trade the post-split CDRs.
About CIBC
CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking, Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre.
SOURCE CIBC
