CIBC to List 11 New U.S. Canadian Depositary Receipts on TSX

CIBC has announced plans to launch 11 new U.S. Canadian Depositary Receipts (CDRs) on the Toronto Stock Exchange on October 20, expanding its lineup to 144 CDRs across six countries. The new listings provide exposure to Bloom Energy (BE), Bristol-Myers Squibb (BMY), Cerebras Systems (CBRS), Coherent (COHR), Datadog (DDOG), Dell Technologies (DELL), Fortinet (FTNT), Lumentum (LUME), Rocket Lab (RKLB), Snowflake (SNOW) and Valero Energy (VLO). CDRs allow Canadian investors to gain fractional exposure to foreign-listed companies in Canadian dollars, with built-in currency hedging designed to mitigate exchange rate fluctuations. The expansion adds exposure across technology, artificial intelligence, cybersecurity, aerospace, healthcare and energy. CIBC introduced CDRs more than five years ago as an alternative to purchasing foreign shares directly.