LATEST FIRM TRANSACTION
September 03, 2014
Brompton Lifeco Split Corp. (the “Company”) (TSX: LCS, LCS.PR.A), which is managed by Brompton Funds Limited, completed a treasury offering (the “Offering”) of 2,850,000 class A shares and 2,850,000 preferred shares for aggregate gross proceeds of approximately $50.2 million. The class A shares were offered at a price of $7.55 and the preferred shares were offered at a price of $10.05.
The Company invests in a portfolio of common shares of Canada’s four largest publicly-listed life insurance companies: Great-West Lifeco Inc., Industrial Alliance Insurance and Financial Services Inc., Manulife Financial Corporation and Sun Life Financial Inc.
The Offering was made on a best efforts agency basis in each of the provinces and territories in Canada through a syndicate of investment dealers led by RBC Capital Markets, CIBC and Scotiabank, and including BMO Capital Markets, National Bank Financial Inc., GMP Securities L.P., Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc., Dundee Securities Ltd., Industrial Alliance Securities Inc., Mackie Research Capital Corporation, and Manulife Securities Incorporated.
Wildeboer Dellelce LLP acted for the agents in connection with the Offering with a team that included Ronald Schwass, Geoffrey Cher and Julie Anderson (corporate/securities) and Kevin Fritz (tax).