Scotiabank completes common share offering

On February 9, 2012, Scotiabank (TSX:BNS, NYSE:BNS) completed its public offering of 33 million common shares, at a price of C$50.25 per common share, for gross proceeds of approximately C$1.658 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 3 million shares purchased by the underwriters 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 the Bank to fund recently closed and previously announced acquisitions.

Further information can be found on Canada Newswire's website.

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 around the world.