Horizons ETFs Management (Canada), the manager and trustee of the Horizons S&P/TSX 60 Index ETF (HXT) listed on the Toronto Stock Exchange (TSX), intends to consolidate the units of the ETF.
After the close of trading on 6 September 2013 on the TSX, the units of HXT will be consolidated on the basis of the ratio 1:2 and will begin trading on a post consolidated basis on 9 September, the effective date of the consolidation.
"This unit consolidation will further enhance the appeal of HXT for institutional and high net worth investors," says Howard Atkinson (pictured), president of Horizons ETFs. "HXT is already the lowest cost ETF in Canada and this consolidation makes it more cost efficient to trade, as well."
