Fortis Inc. plans to sell up to C$500 million of its common shares from time to time as part of its newly established at-the-market equity program.
The company said it will sell the shares through the Toronto Stock Exchange and the NYSE at the prevailing market price at the time of sale, according to a March 26 news release. The program is valid until Dec. 30.
Fortis intends to use sale proceeds for general corporate purposes.
Scotia Capital Inc., TD Securities Inc., Morgan Stanley Canada Ltd. and Wells Fargo Securities Canada Ltd. will serve as selling agents in Canada. Scotia Capital (USA) Inc., TD Securities (USA) LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC will act as U.S. agents.