The underwriters of Industrial Alliance Insurance and Financial Services Inc.'s recently completed common stock offering have fully exercised their overallotment option, buying 250,000 common shares at a price of C$54.10 per share.
The sale resulted in the company raising additional gross proceeds of nearly C$13.5 million.
The exercise of the overallotment option brings the total number of common shares sold by the company in the common share offering to 2,750,000 for aggregate gross proceeds of C$148.8 million.
The offering was conducted by a syndicate of underwriters co-led by TD Securities Inc. and National Bank Financial Inc., and which also included RBC Capital Markets, Scotiabank, BMO Capital Markets, CIBC Capital Markets and Industrial Alliance Securities Inc.
