Company also will raise C$1 billion through public offering of shares
By Devika Patel
Knoxville, Tenn., April 20 – Brookfield Asset Management Inc. said it has arranged a C$78.12 million private placement of stock. The company also plans to raise C$1 billion in a public offering of stock.
In the placement, Paramount will sell 1,395,089 class A limited voting shares at C$56.00 apiece. The price per share is a 20.17% discount to C$70.15, the April 17 closing share price.
The company also will sell 17.9 million shares at the same price in the public sale, which is being conducted on a bought deal basis by a syndicate of underwriters co-led by CIBC, RBC Capital Markets, Citigroup Global Markets Canada Inc. and Deutsche Bank Securities. There is a C$150 million greenshoe for the public offering.
Toronto-based Brookfield is an asset management holding company.
| Issuer: | Brookfield Asset Management Inc.
|
| Issue: | Class A limited voting shares
|
| Amount: | C$78,124,984
|
| Shares: | 1,395,089
|
| Price: | C$56.00
|
| Warrants: | No
|
| Pricing date: | April 20
|
| Stock symbol: | Toronto: BAM.A
|
| Stock price: | C$70.15 at close April 17
|
| Market capitalization: | C$43.7 billion
|
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