Scotiabank closes common share offering

June 08, 2018

Torys represented Scotiabank with a team led by (Ricco) A.S. Bhasin and which included Glen Johnson, Marko Trivun, Jacob Posen, Brett Saulnier and Isabella Ssozi.

On June 8, 2018, Scotiabank announced that it completed its previously announced public offering of 22,655,000 common shares, at a price of C$76.15 per share, for gross proceeds of C$1,725,178,250. The common shares issued include 2,955,000 shares purchased by the underwriters pursuant to the over-allotment option exercised in full by the underwriters.

The net proceeds will be used by Scotiabank to fund a portion of the purchase price for its planned C$2.585 billion acquisition of MD Financial Management from the Canadian Medical Association.

Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, Europe and Asia-Pacific.

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

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