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Hydro One IPO set to price at high end of price range - sources

Published 2015-10-28, 03:58 p/m
© Reuters. Hydro One IPO set to price at high end of price range - sources
BNS
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RY
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By John Tilak and Euan Rocha
TORONTO, Oct 28 (Reuters) - Ontario electric utility Hydro
One Ltd is set to price at the higher end of its previously
disclosed range, according to two sources familiar with the
matter.
The company is likely to tighten the offering price range to
C$20 to C$21 per share, from the C$19 to C$21 per share it
announced earlier, said the sources, who spoke on condition of
anonymity.
The offering is being significantly oversubscribed, one of
the sources said.
Earlier this month, the government of Ontario said it
planned to sell up to 89.25 million Hydro One shares in an
initial public offering to be priced between C$19 and C$21,
pegging the overall value of the company between C$11.31 billion
and C$12.5 billion.
Royal Bank of Canada RY.TO and Bank of Nova Scotia
BNS.TO are the lead underwriters on the deal.

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