DORRS MARKET INTELLIGENCE
Lennox International Inc. Dinari dShares
ASSET PROFILE
Business description
Lennox manufactures and distributes heating, ventilating, air conditioning, and refrigeration products for the North American replacement (75% of sales) and new construction (25% of sales) markets. Residential HVAC (home comfort solutions) accounts for 67% of sales and commercial HVAC (building climate solutions) accounts for the remaining 33% of sales. Lennox's commercial exposure is what its peers refer to as residential and light commercial, and lacks the scale and complexity of what is referred to as an applied solution. The company goes to market with multiple brands, but Lennox is its flagship HVAC brand. Lennox International Inc. Dinari dShares provides blockchain-based exposure to the listed underlying security LII. Dinari represents that each dShare is backed 1:1 by the corresponding underlying security and supports on-chain transfer, settlement, redemption, and applicable corporate actions.
TRADING ACTIVITY
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