BEP announced that they will distribute 1 BEPC share for each 4 BEP shares.
Brookfield Renewable also intends to complete the previously announced special distribution of shares of Brookfield Renewable Corporation on July 30. From an economic and accounting perspective, the special distribution will be analogous to a unit split as it does not result in any underlying change to aggregate cash flows or net asset value except for the adjustment for the aggregate number of units/shares outstanding.
Each BEP unitholder of record as of July 27 will receive one (1) class A exchangeable subordinate voting share of BEPC for every four (4) BEP units held. The shares will commence regular-way trading on the Toronto Stock Exchange and the New York Stock Exchange under the symbol “BEPC” on July 30.
How will this be reflected to us? Will we get BEPC shares, BEP shares, or the equivalent money?
It would be great if we can get the corresponding BEPC shares.
Any information about this, @David?