Brompton Lifeco Split Corp. (the Company ) is pleased to announce that the Company s treasury offering of class A and preferred shares has been priced at $ 7.55 per class A share and $ 10.05 per preferred share. The final class A share and preferred share offering prices were determined so as to be non dilutive to the net asset value per unit of the Company on August 22, 2014, the most recently calculated net asset value, as adjusted for dividends and certain expenses accrued prior to or upon settlement of the offering.
The Company invests in a portfolio, on an approximately equal weight basis, 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 Company intends to file a final prospectus in each of the provinces and territories of Canada in connection with the offering.
The offering is expected to close on or about September 3, 2014 and is subject to customary closing conditions including approvals of applicable securities regulatory authorities and the Toronto Stock Exchange.
The syndicate of agents for the offering is being led by RBC Capital Markets, CIBC, and Scotiabank, and includes 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