CIBC to Give Canadian Investors Access to SpaceX With Launch of Canadian Depositary Receipt

Dow Jones

06/10

By Robb M. Stewart

One of Canada's big banks is offering investors in the country access to SpaceX, launching what it says will be the first ever Canadian depositary receipt tied to a newly listed company.

Canadian Imperial Bank of Commerce said it plans to list a SpaceX depositary receipt on the Toronto Stock Exchange, with trading set to begin Friday.

The move comes as Elon Musk prepares for the blockbuster initial public offering of the rocket maker. SpaceX is expected to start trading on the Nasdaq Friday in what could be the largest IPO of all time.

First introduced almost five years ago, Canadian depositary receipts offer investors a chance to own shares of some of the world's largest companies. CDRs are offered at a fraction of the price per share of the underlying share, with what CIBC said is a built-in notional currency hedge.

The Canadian bank with the addition of the SpaceX CDR will offer 132 such depositary receipts across six countries.

SpaceX said in a filing it plans to sell 555,555,555 shares at $135 apiece, raising close to $75 billion or more for a valuation of around $1.77 trillion.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

June 10, 2026 08:26 ET (12:26 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Stewart \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  One of Canada's big banks is offering investors in the country access to SpaceX, launching what it says will be the first ever Canadian depositary receipt tied to a newly listed company. \n</p>\n<p>\n  <a href=\"https://laohu8.com/S/CM\">Canadian Imperial</a> Bank of Commerce said it plans to list a SpaceX depositary receipt on the Toronto Stock Exchange, with trading set to begin Friday. \n</p>\n<p>\n  The move comes as Elon Musk prepares for the blockbuster initial public offering of the rocket maker. SpaceX is expected to start trading on the Nasdaq Friday in what could be the largest IPO of all time. \n</p>\n<p>\n  First introduced almost five years ago, Canadian depositary receipts offer investors a chance to own shares of some of the world's largest companies. CDRs are offered at a fraction of the price per share of the underlying share, with what CIBC said is a built-in notional currency hedge. \n</p>\n<p>\n  The Canadian bank with the addition of the SpaceX CDR will offer 132 such depositary receipts across six countries. \n</p>\n<p>\n  SpaceX said in a filing it plans to sell 555,555,555 shares at $135 apiece, raising close to $75 billion or more for a valuation of around $1.77 trillion. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Robb M. Stewart at robb.stewart@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 10, 2026 08:26 ET (12:26 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SPCX","symbol_name":"SPAC and New Issue ETF","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2642250654","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2642250654","pubTimestamp":1781094360,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"One of Canada's big banks is offering investors in the country access to SpaceX, launching what it says will be the first ever Canadian depositary receipt tied to a newly listed company.Canadian Imperial Bank of Commerce said it plans to list a SpaceX depositary receipt on the Toronto Stock Exchange, with trading set to begin Friday.The move comes as Elon Musk prepares for the blockbuster initial public offering of the rocket maker. 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Stewart \n\n\n \n\n\n  One of Canada's big banks is offering investors in the country access to SpaceX, launching what it says will be the first ever Canadian depositary receipt tied to a newly listed company. \n\n\nCanadian Imperial Bank of Commerce said it plans to list a SpaceX depositary receipt on the Toronto Stock Exchange, with trading set to begin Friday. \n\n\n  The move comes as Elon Musk prepares for the blockbuster initial public offering of the rocket maker. SpaceX is expected to start trading on the Nasdaq Friday in what could be the largest IPO of all time. \n\n\n  First introduced almost five years ago, Canadian depositary receipts offer investors a chance to own shares of some of the world's largest companies. CDRs are offered at a fraction of the price per share of the underlying share, with what CIBC said is a built-in notional currency hedge. \n\n\n  The Canadian bank with the addition of the SpaceX CDR will offer 132 such depositary receipts across six countries. \n\n\n  SpaceX said in a filing it plans to sell 555,555,555 shares at $135 apiece, raising close to $75 billion or more for a valuation of around $1.77 trillion. \n\n\n \n\n\n  Write to Robb M. Stewart at robb.stewart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 10, 2026 08:26 ET (12:26 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}