AltaGas Ltd T.ALA

Alternate Symbol(s): ATGFF | T.ALA.PR.A | ATGPF | T.ALA.PR.B | T.ALA.PR.G | ATGAF

AltaGas Ltd. is a Canada-based infrastructure company that connects natural gas and natural gas liquids (NGLs) to domestic and global markets. Its segments include Utilities and Midstream. Utilities owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities, which includes two utilities that operate across four United States jurisdictions. The Utilities business also includes other storage facilities and contracts for interstate natural gas transportation and storage services, as well as WGL Energy Services, Inc., which sells natural gas and electricity. Midstream is a North American platform that connects customers and markets from wellhead to tidewater. The three pillars of the Midstream business include global exports, which includes its two operational Liquified Petroleum Gas (LPG) export terminals and one prospective development terminal; natural gas gathering, processing and extraction, and fractionation and liquids handling.

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AltaGas Ltd

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Comment by namechangeneedeon Oct 02, 2018 3:32pm

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Post# 28731696

RE:RE:RE:RE:RE:RE:RE:ALA Alta Gas Canada New Issue a joke

Thanks!

depix wrote:

namechangeneede wrote: Can anyone define marketed deal? Closest I could find is marketed offering which seems to be the same as a bought deal.

In a marketed offering, the underwriters agree to purchase all of the securities from the issuer or selling shareholder but may not firmly agree on the price or amount until after marketing the securities to potential investors.

B1gkatt wrote: Thats what I thought when I read the RBC stuff, and now TD has confirmed.

So, if there is not sufficient institutional interest, ALA could still cancel the whole IPO idea and go back to trying to sell assets, right?

I realize all longs hope that does not happen, since it would be a huge public embarassment to say nothing of putting ALA into a worse position to negotiate asset sales. Hence no doubt SP would take a pretty big (additional) hit.

But this is one possible outcome, is it not?

Difference is below:

In a “bought deal” underwriting, the underwriters commit to purchase the securities at an agreed price before the transaction is announced publicly. By contrast, in a “marketed” underwritten offering, the company files a preliminary prospectus that does not include the price and the number of securities to be sold. The underwriters market the offering to prospective purchasers using the preliminary prospectus. After completion of the marketing, the company and dealers agree on the price and size of the offering, sign an underwriting agreement and file a final prospectus containing deal-specific terms. Alternatively, an offering may be structured as an “overnight marketed deal,” which commences in a manner similar to a “marketed” underwritten offering but, if successful, quickly (e.g. within one day) becomes a “bought deal.”