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Authentic Brands Group, which owns brands like Forever 21, Eddie Bauer, Aeropostale, Juicy Couture, Sports Illustrated and Brooks Brothers, has cancelled plans to go public. Learn more about the withdrawn IPO, and find out about similar companies you can invest in from Canada.
Note: All dollar amounts on this page are in US dollars unless otherwise stated.
On January 5, 2022, Authentic Brands Group filed a withdrawal form with the US Securities and Exchange Commission, effectively cancelling its plans to go public.
Originally, the global brand developer planned to go public on the NYSE under the ticker symbol “AUTH.” BofA Securities Inc., J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC were slated to act as the lead underwriters of the deal. You can read about the IPO in detail in a registration document submitted to the SEC on July 6, 2021.
The cancellation comes after Authentic brands decided to sell a large stake in its company to existing shareholders, private equity firm CVC Capital and hedge fund HPS Investment Partners. The deal values the company at $12.7 billion.
Even though you won’t be able to buy Authentic Brands Group stock, you can still invest in other companies that own and develop portfolios of brands.
Company | Stock info |
---|---|
Hanesbrands Inc. | NYSE: HBI |
G-III Apparel Group, Ltd. | Nasdaq Global Select Market: GIII |
NYSE: NKE | |
NYSE: JNJ | |
OTC Markets: LVMUY | |
Lifetime Brands, Inc. | Nasdaq Global Select Market: LCUT |
Genius Brands International, Inc. | Nasdaq Capital Market: GNUS |
You’ll need a brokerage account to buy and sell shares. Here’s how it works:
Agreements between Canada and the US require Canadians holding US stock investments to pay the US Internal Revenue Service (IRS) a 15% withholding tax on any dividends earned on their US stocks. Interest earned from bonds or other interest-yielding US investments are similarly taxed at a rate of 10%.
An exception is made for stock investments held in trust exclusively designed to provide retirement income. Such trusts include RRIFs, LIRAs, LIFs, LRIFs and Prescribed RRIFs. RRSPs are also exempt from US withholding tax if you own US investments in the form of US stocks, bonds or ETFs.
Investment accounts that do not qualify for this exemption include RESPs, TFSAs and RDSPs.
All income from investments, including foreign investments, must be declared as part of your income on your Canadian tax return. Unless your US earnings are exempt from withholding tax, this means you’ll be double taxed on those earnings — first by the IRS, then by the CRA. However, the CRA may allow you to claim foreign tax credits for any taxes you’ve already paid to the IRS.
Speak with a tax professional to find out what rules and exceptions apply to your circumstances.
You can compare features of stock trading platforms in the table below. Once you’ve decided on the right fit for your needs, click the “Go to site” button to get started.
Note: The dollar amounts in this table are in Canadian dollars.
To make comparing even easier we came up with the Finder Score. Trading costs, account fees and features across 10+ stock trading platforms and apps are all weighted and scaled to produce a score out of 10. The higher the score the better the platform - simple.
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