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Energy Leaders Plus to list on TSX Oct. 21

2014-10-17 20:14 ET - New Listing

Energy Leaders Plus Income Fund will begin trading on the Toronto Stock Exchange as an industrial issuer at the open on Tuesday, Oct. 21, 2014, according to the TSX.

As in the fund's Sept. 24, 2014, prospectus for its initial public offering, it will invest in a portfolio of 20 energy issuers that have a market capitalization of at least $10-billion, are paying a dividend/distribution, have options in respect of their equity securities listed on a recognized options exchange, and have operations and/or offices in at least two countries.

The fund will seek to provide unitholders with monthly cash distributions, the opportunity for capital appreciation and lower overall volatility of the portfolio returns than would be experienced by owning the equity securities of the companies directly. The manager of the fund is Harvest Portfolios Group Inc.

The fund plans to raise $100-million through its IPO by selling Class A units at $10 each and Class U units at $10 (U.S.) each. It has granted the agents an overallotment option to buy up to another 15 per cent of the number of Class A units sold under the offering for 30 days from closing. The Class U units are designed for investors that want to make their investment in U.S. dollars and will not be listed on an exchange, but are convertible into Class A units on a monthly basis.

The TSX reports the fund's Class A units will trade under the symbol HPF.UN and Cusip No. 29272Y 10 5.

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