S&P Canadian Index Services announced changes to the S&P/TSX Canadian Indices as a result of an agreement between shareholders of Petrobank Energy and Resources Ltd. (PBG.TO) and PetroBakken Energy Ltd. (PBN.TO).
All shares of PetroBakken Energy currently held by Petrobank will effectively be spun out to shareholders, including currently unlisted Class B shares which will convert to Class A common shares on a 1-for-1 basis.
As a result of the increase in the number of float shares of the company, the relative weight of PetroBakken Energy will increase in the S&P/TSX Composite and Capped Composite, the S&P/TSX Completion, the S&P/TSX Capped Energy, the S&P/TSX Composite Dividend and the S&P/TSX Equity Income Indices.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
