Shares in Canada’s biggest airline will soon be trading on the OTCQX International Premier exchange in the United States. Class A variable voting shares and Class B voting shares will be available.
Air Canada executive vice president and CFO Michael Rousseau said the move helps extend his company’s reach.
“International interest in Air Canada has increased and the OTCQX market provides another accessible platform for U.S. investors to buy and trade our stock.”
Canadian federal law mandates at least 75 percent of voting interest in the airline be controlled by Canadians. That required the implementation of a dual class share structure where Air Canada shares acquired by Canadians automatically become Class B voting shares and those acquired by non-Canadians are automatically Class A variable voting shares, in both cases without any further act by either Air Canada or the holder.