The Charles Schwab Corporation has announced the pricing of a $13.1 billion secondary offering of its common stock, which is held by an affiliate of the Toronto-Dominion Bank (TD Bank). This move comes as TD Bank plans to sell its entire equity investment in Schwab, which amounts to a stake valued at approximately $20 billion. The proceeds from this sale are intended to be utilized for a C$8 billion share buyback program and to enhance TD Bank's operations in Canada under new CEO Raymond Chun. Additionally, Schwab is expanding its trading services by allowing 24-hour trading for all retail clients, aiming to meet the growing demand from investors. This initiative follows successful pilot tests conducted in late 2024, which indicated peak trading times during late evening and early morning hours. Schwab's market capitalization is reported at $154 billion.