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Article: Central Fund of Canada Limited Increases Equity Offering to U.S.$230 Million as Underwriters Exercise Their Right to Purchase Additional Class A Shares.
- Article from:
- Marketwire Canada
- Article date:
- November 10, 2009
CopyrightCOPYRIGHT 2009 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TORONTO, ONTARIO, Nov 10, 2009 (Marketwire via COMTEX) -- Central Fund of Canada Limited ("Central Fund") (TSX:CEF.A)(TSX:CEF.U)(NYSE Amex:CEF) is pleased to announce that a syndicate of underwriters (the "Underwriters") led by CIBC have exercised their right to purchase an additional 1,475,000 Class A Shares at a price of U.S.$13.56 per Class A Share, for additional gross proceeds of approximately U.S.$20 million to Central Fund. The Underwriters agreed earlier this morning to purchase 15,500,000 Class A Shares for gross proceeds of approximately U.S.$210 million.
The purchase price of U.S.$13.56 per Class A Share was non-dilutive and accretive for the existing ...