trending Market Intelligence /marketintelligence/en/news-insights/trending/sth_l8dfck6ogedbhwav9w2 content esgSubNav
In This List

Underwriters exercise overallotment option for Industrial Alliance stock

Blog

The Big Picture 2022 Insurance Industry Outlook

Podcast

Next in Tech | Episode 37: Insurance impacts on technology and vice versa

Case Study

A Prestigious Global Business School Gains a Competitive Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Underwriters exercise overallotment option for Industrial Alliance stock

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.