O
ne of Canada’s largest initial public
offerings in 15 years, and the biggest
transaction in Ontario history, became of-
ficial on Nov. 5 when shares in Hydro One
began trading on the Toronto Stock Ex-
change.
More than 81 million shares were of-
fered at an IPO price of $20.50 per com-
mon share with the potential of bringing in
$1.66 billion in proceeds for the Province
of Ontario. Within the first half hour, more
than 10 million shares had been sold and
by early afternoon, the shares were trad-
ing at $21.60, finally closing at $21.62. The
offering was made through a syndicate of
underwriters led by RBC Capital Markets
and Scotiabank.
The common shares of the Company are
listed on the Toronto Stock Exchange un-
der the symbol “H”. Upon closing of the
offering, there were 595,000,000 com-
mon shares issued and outstanding in the
capital of Hydro One Ltd., of which the
province owned 513,900,000 representing
86.4 percent of the issued and outstand-
ing common shares, a Hydro One news
release stated. The province had granted
the underwriters an over-allotment option
NOVEMBER 2015
H
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