How to buy Triller stock in Canada when it goes public

Here's everything we know so far about the Triller IPO.

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Triller has cancelled plans to go public by merging with SeaChange International, but has confirmed plans to go public by merging with AGBA Holdings. AGBA chairman Bob Diamond is looking to take on rival video-sharing app TikTok, which is facing legislation that could ban it nationwide in the US.

Here's what we know about the deal so far and how to buy Triller stock in Canada when it becomes available.

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What we know about the Triller IPO

Popular US-based video-sharing social networking service, Triller, has cancelled plans to go public by merging with SeaChange International (Nasdaq: SEAC), a video delivery and advertising company. Instead, Triller will go public by merging with AGBA Holdings, a Hong Kong wealth management and healthcare services company with a fintech ecosystem for businesses.

Following the merger, AGBA will become a Delaware corporation that wholly owns Triller, but 80% of AGBA's stock will be owned by Triller shareholders and employees. The combined company is expected to have a market valuation of $4 billion.

How to buy Triller stock in Canada

AGBA Holdings went public by merging with an SPAC in November 2023 and currently trades on the Nasdaq Capital Market under the ticker symbol "AGBA." Back when Triller was planning to merge with SeaChange, it was going to list on the NYSE under the stock symbol "ILLR."

Many details of the Triller-AGBA merger remain unconfirmed, such as the newly-formed company's name, the exchange on which it will trade, the stock symbol and the exact date of the transaction.

You can read more in this document filed with the US Securities and Exchange Commission (SEC) on April 16, 2024 and in this more recent press release. We'll update this guide as more information becomes available.

What is Triller?

Triller is a music video app that allows users to take an entire song and shoot an editable, high-quality music video to it. It's co-owned by movie producer Ryan Kavanagh and is currently valued at about $4 billion—eight times more than it was worth in 2019. The app has been downloaded more than 250 million times worldwide as of August 2020.

With music as its focus, Triller has received investments from major recording artists such as Snoop Dogg, Lil Wayne and The Weeknd. Big names like Cardi B and Alicia Keys have also used the app to shoot their own music videos.

Kavanagh notes that Triller has about 65 million active users. However, Business Insider spoke with former employees who claim the numbers were inflated, something Kavanagh denies.

Nonetheless, Triller still falls behind its rival TikTok. That video app giant has been downloaded more than 4.7 billion times despite being younger than Triller.

On March 9, 2021, it was reported that Triller Network had acquired Verzuz, the livestream music platform created by Swizz Beatz and Timbaland. The deal brought a long list of artists into the network as equity holders.

Note: all dollar amounts on this page are in US dollars unless otherwise stated.

How to buy Triller stock when it starts trading

Once Triller 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.

  1. Compare stock trading platforms. Use our comparison table to help you find a platform that fits your needs.
  2. Open your brokerage account. Complete an application with your details.
  3. Confirm your payment details. Fund your account.
  4. Research the stock. Find the stock by name or ticker symbol and research it before deciding if it's a good investment for you.
  5. Purchase now or later. Buy your desired number of stocks with a market order or use a limit order to delay your purchase until the stock reaches a desired price.

Will I be able to buy Triller stock in Canada?

You won't be able to buy Triller 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).

How do similar companies perform?

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 Triller 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.

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Note: The dollar amounts in the table below are in Canadian dollars.

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Tax implications of buying US stocks in Canada

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.

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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