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Mobilicom, which currently trades on the Australian Securities Exchange (ASX), will begin trading on the Nasdaq soon. Here's what we know about the public offering and how to buy Mobilicom stock on the Nasdaq if you live in Canada.
Mobilicom—an Australia-based company that provides cybersecurity and smart solutions for drones, robotics and autonomous platforms—has filed a registration document with the US Securities and Exchange Commission (SEC) to begin selling stocks on the Nasdaq Capital Market under the ticker symbol "MOB."
The company plans to sell 2,150,538 American Depositary Shares (ADSs), each of which represents 150 ordinary shares in the company. Shares are expected to begin trading at a price of $4.65.
ADSs are foreign stocks held and sold by US depositary banks, which makes it easier to invest in foreign companies through US stock exchanges. Often, multiple ADSs are bundled and sold as a single unit called an American Depositary Receipt (ADR).
Mobilicom's Nasdaq offering is expected to take place in the third quarter of 2022. 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 Mobilicom Limited 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 Mobilicom Limited 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).
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.
Note: The dollar amounts in the table below are in Canadian dollars.
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