Ontario Raises $2B After Selling Stake In Hydro One

Law360, New York (May 18, 2017, 6:21 PM EDT) -- The government of Ontario has raised approximately CA$2.8 billion ($2 billion) through a secondary share sale of electric power utility Hydro One, the provincial government announced on Wednesday.

Ontario sold 120 million shares at CA$23.25 apiece, approximately 13 percent higher than the CA$20.50 price in its CA$1.66 billion November 2015 initial public offering for Hydro One shares, the government said in an announcement on Wednesday. Ontario has now raised more than CA$9 billion in gross revenue from sales of Hydro One, it said, which will be...
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