to purchase an additional 8.15 million com-
mon shares at the offering price, exercis-
able in whole or in part at any time for a
period of 30 days after the closing of the
offering.
Hydro One Ltd. is the largest electrical
transmission and distribution utility in On-
tario with approximately $23 billion in as-
sets and 2014 revenues of over $6 billion.
Hydro One Inc., a subsidiary of Hydro One
Ltd., delivers electricity to more than 1.2
million customers across Ontario, and to
large industrial customers and municipal
utilities. Hydro One Inc. owns and oper-
ates Ontario’s approximately 29,000-km,
high-voltage transmission network and an
approximately 122,000 circuit kilometre
primary low-voltage distribution network.
Prior to the closing of the offering, Hydro
One Ltd. acquired all of the issued and
outstanding shares of Hydro One Inc. The
sale faced opposition from the Ontario
public and sparked increasing political con-
troversy as the offering date approached.
Hydro One Inc. reported its third-quarter
results Nov. 13. For the three-month pe-
riod ending Sept. 30, revenues rose 5.7
percent and the third-quarter profits saw
an 11-percent increase.
NOVEMBER 2015
H
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