What we know so far
Offer price: | $18.00 - $20.00 |
Stock symbol: | PHCC |
Estimated size: | $199.5 million |
Status: | Postponed |
On July 28, 2021, Preston Hollows announced it was postponing its plans to have an IPO on the Nasdaq. Here's what we know about the IPO so far and how to buy Preston Hollows stock in Canada.
On July 6, 2021, Preston Hollow Community Capital—which provides specialized financing solutions for socially and economically impactful community projects in the US—filed a prospectus with the US Securities and Exchange Commission (SEC) to go public. You can view a more recent version of the document here.
It had planned to offer 10.5 million stocks on the NYSE under the ticker symbol "PHCC." Altogether, Preston Hollow had hoped to raise around $199.5 million from the IPO. Stocks were expected to begin trading around July 28, 2021.
On July 28, Preston Hollow announced it was postponing the IPO. It has not yet announced a future IPO date. We'll update this page as more information becomes available.
Note: all dollar amounts on this page are in US dollars unless otherwise stated.
Once Preston Hollow Community Capital goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.
You won't be able to buy Preston Hollow Community Capital stocks on a Canadian stock exchange like the TSX. Instead, you need a Canadian broker that provides access to international stock exchanges.
You can access US exchanges like the NYSE and the NASDAQ using Canadian trading platforms like Qtrade, Wealthsimple, Scotia iTRADE and CIBC Investor's Edge.
Interactive Brokers provides access to many stock exchanges outside North America like the Hong Kong Stock Exchange (SEHK), Korea Stock Exchange (KSE), National Stock Exchange of India (NSE), Frankfurt Stock Exchange (FWB) and London Stock Exchange (LSE).
It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. Looking at the performance of similar companies can help you decide if now is a good time to buy Preston Hollow Community Capital stock.
See how the following stocks are performing, and view details like market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield.Note: The dollar amounts in the table below are in Canadian dollars.
Canadians who earn dividends from US stock investments must pay the US Internal Revenue Service (IRS) a 15% withholding tax on their earnings. The rate goes down to 10% for bonds and other interest-yielding US investments.
An exception is made for stock investments held in trusts designed to provide retirement income. This includes RRIFs, LIRAs, LIFs, LRIFs and Prescribed RRIFs. RRSPs that hold US stocks, bonds or ETFs are also exempt from US withholding tax. RESPs, TFSAs and RDSPs are not exempt.
Canadian and international investment income must be declared on your Canadian tax return. Unless your US earnings are exempt from withholding tax, this means you'll be taxed by both the IRS and the CRA. 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 in your circumstances.
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