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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.