08:33 AM EDT, 07/04/2024 (MT Newswires) -- CIBC (CM.TO), one of Canada's biggest banks, reported Thursday a split of its Nvidia Canadian depositary receipts that had a July 2 closing price of $115.70 and a forward split ratio of 4-for-1.

The split will take effect on July 9 after trading close. The receipts will start trading on a split-adjusted basis on July 10.

The split is not expected to have any economic impact on the value of investors' Nvidia CDR positions, CIBC said.

Previously, the Nvidia CDRs were subject to a ratio adjustment event effective June 10, 2024 related to the 10-for-one split of the common stock of Nvidia Corporation ( NVDA ),

CIBC's share price closed 0.8% higher yesterday at $66.24 on the TSX.