Industrial Alliance Insurance and Financial Services Inc. will list an additional 6.33 million shares on the Toronto Stock Exchange at the open on Wednesday, Feb. 27, 2013, according to the TSX. As in a Feb. 20, 2013, prospectus supplement, the company plans to sell six million shares at $37.50 each, raising $225-million. It has granted the underwriters an overallotment option to buy up to 666,000 more shares at the same price for 30 days from the closing of the offering. The company plans to use the money raised to redeem all of its outstanding 8.25-per-cent subordinated debentures due March 27, 2019, and to redeem all of its trust securities, Series A.
© 2013 Canjex Publishing Ltd. All rights reserved.