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The DeLorean Motor Company is expected to go public, although the details of the offering have not been announced. Here's what we know about the IPO and how to buy DeLorean stock in Canada when it becomes available.
CIBC Investor's Edge
The DeLorean Motor Company (DMC) is expected to go public, however, the date has not been announced. DMC is a Texas-based electric vehicle manufacturer that makes the car known for inspiring the iconic DeLorean time machine in the 1985 film Back to the Future.
CEO Joost de Vries confirmed that the company must go public to raise the funds needed to put DeLorean vehicles back on the market. The DeLorean Alpha5 sports car was revealed this year, the first of a lineup that could expand to include a sedan as well as a premium SUV, according to de Vries.
Details of the IPO, such as the timing, stock exchange, ticker symbol, size of the offering and expected share price, have not been announced. The DeLorean Motor Company has not yet filed a viewable prospectus with the Securities and Exchange Commission (SEC).
DMC is the successor of the original DeLorean Motor Company, founded by American auto executive John DeLorean in 1975. The company went bankrupt in 1982 after producing nearly 9,000 vehicles.
Stephen Wynne, a UK-born mechanic and DeLorean enthusiast, opened the existing company in 1995 and acquired the parts and rights to resume manufacturing the famed sports car.
A DeLorean IPO could signal a successful comeback for the auto brand after years of trying to penetrate the market. We'll keep this page updated as events unfold.
Note: all dollar amounts on this page are in US dollars unless otherwise stated.
Once DeLorean Motor Company 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 DeLorean Motor Company stocks on a Canadian stock exchange like the TSX. Instead, you need a Canadian broker that provides access to international stock exchanges.
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 DeLorean Motor Company 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.Online stock trading
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