Transaction|September 7, 2012
Scotiabank completes offering of common shares
Torys acted as counsel to the underwriters with a team that included Philip Mohtadi and Peter Danner (securities) and Catrina Card (tax).
On September 7, 2012, Scotiabank completed its public offering of 33,350,000 common shares, at a price of C$52.00 per common share, for gross proceeds of C$1.734 billion. The offering was underwritten by a syndicate of underwriters led by Scotia Capital Inc. on a bought deal basis. The common shares issued include 4.35 million shares purchased by the underwriters, at a price of C$52.00 per common share, pursuant to the over-allotment option exercised in full by the underwriters. The common shares issued are listed on the Toronto Stock Exchange and the New York Stock Exchange.
The net proceeds will be used by Scotiabank to fund its acquisition of ING Bank of Canada.
The Bank of Nova Scotia is a diversified financial institution offering a range of products and services, including retail, commercial, corporate and investment banking in more than 55 countries.
Further information can be found on Canada Newswire's website.
The net proceeds will be used by Scotiabank to fund its acquisition of ING Bank of Canada.
The Bank of Nova Scotia is a diversified financial institution offering a range of products and services, including retail, commercial, corporate and investment banking in more than 55 countries.
Further information can be found on Canada Newswire's website.