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Stock impact report

Brookfield Shifts Head Office to New York to Qualify for Indexes [Yahoo! Finance Canada]

Brookfield Corporation Class A Limited Voting Shares (BN) 
Most Read from Bloomberg The shift aims to increase “BAM's visibility among a much broader universe of active public investors who benchmark against these indices,” the Canadian alternative asset manager said in a statement late Thursday. The move “makes sense” because the US accounts for the biggest share of Brookfield Asset's employees and revenue, Chief Financial Officer Hadley Peer Marshall told investors in September, adding that Brookfield would remain incorporated in Canada. The move won't result in any changes to operations, strategic plans, or dividend tax treatment, according to Thursday's statement. Parent company Brookfield Corp. will also swap its currently unlisted 73% stake in Brookfield Asset Management for publicly-traded stock. BAM will issue Class A shares to its parent company in exchange for the shares currently owned by the parent and its subsidiaries in a one-for-one exchange. The size of Brookfield Corp.'s economic stake in BAM won't change, but the sw Show less Read more
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