CIBC launches additional U.S. Canadian depositary receipts

CIBC launches additional U.S. Canadian depositary receipts

TORONTO, July 2, 2025 — Canadian Imperial Bank of Commerce (CIBC) has announced the addition of two new U.S. Canadian Depositary Receipts (CDRs) to its lineup, enhancing investor access to global equities. These new CDRs, Coinbase and Lockheed Martin, are now listed on the Toronto Stock Exchange (TSX) and available for trading [2].

The introduction of these CDRs brings the total number of CIBC's global CDRs to 103, spanning four countries. CDRs provide investors with a cost-effective and convenient way to invest in international companies while mitigating currency risk. They are offered at a fraction of the price per share of the underlying reference share and come with a built-in notional currency hedge [2].

The new CDRs join an existing portfolio that includes well-known U.S. companies. CIBC's CDRs are designed to make it easier for Canadian investors to access global stocks, offering a simple and affordable way to diversify their portfolios. The Prospectus Supplement for these latest Series of CDRs has been filed on SEDAR+ at www.sedarplus.ca for more information [2].

CIBC's CDRs have been a popular choice among investors due to their ease of use and the ability to invest in major global companies in Canadian dollars. The bank's commitment to expanding its CDR offerings reflects its strategy to provide investors with more opportunities to access global markets.

References:
[1] https://www.marketscreener.com/news/cibc-asset-management-inc-announces-launch-of-four-new-cibc-etfs-expanding-income-and-growth-solut-ce7c50d8d98ff023
[2] https://www.newswire.ca/news-releases/cibc-launches-additional-u-s-canadian-depositary-receipts-cdrs--812531900.html