Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Enbridge cancels Series N to Series O share conversion

EditorPollock Mondal
Published 2023-11-17, 09:46 a/m
© Reuters.
ENB
-

Enbridge (NYSE:ENB) Inc., the Calgary-based energy giant, announced that its planned conversion of Series N shares into Series O shares, scheduled for December 1, 2023, has been called off. The company cited a lack of sufficient Series N shares tendered by the deadline on Thursday.

Enbridge is known for operating extensive energy networks across North America and Europe, with a focus on oil, natural gas, and renewable power generation. In addition to its core operations, Enbridge is actively working towards reducing carbon emissions. The firm has set an ambitious target to achieve net zero greenhouse gas emissions by 2050. This commitment is supported by the development of advanced energy infrastructure and technologies including hydrogen, renewable natural gas, and carbon capture and storage solutions.

The company's decision not to proceed with the share conversion comes as it continues to trade on the Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE) under the ticker ENB. Enbridge's strategic initiatives reflect its dedication to sustainability and innovation in the energy sector while navigating the financial mechanisms that support its growth and operational goals.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.