GREY:EBGUF - Post by User
Post by
RMXStoleMEon Nov 30, 2017 8:34am
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Post# 27061648
500 MILLIONS OFFERING SHARES WTF?
500 MILLIONS OFFERING SHARES WTF?What does this mean? they will offer share price at a discount @27.80 per share when it's 29$ right now? would that drop the price to 26$ ??
Enbridge Income Fund Holdings Inc. (the "Company") (TSX:ENF) today announced that it has entered into an agreement with a syndicate of underwriters led by Scotiabank, RBC Capital Markets and TD Securities Inc., for the purchase and distribution to the public of 17,986,000 common shares ("Common Shares") at a price of $27.80 per Common Share (the "Offering Price") for gross proceeds of $500,010,800 (the "Offering"). The underwriters were also granted an over-allotment option, exercisable within 30 days following closing of the Offering, to acquire up to an additional 2,697,900 Common Shares at the Offering Price. Closing of the Offering is expected on or about December 7, 2017.
Read more at https://www.stockhouse.com/news/press-releases/2017/11/29/enbridge-income-fund-holdings-inc-announces-500-million-common-share-offering#qGWWdCAxiBJVe3lg.99