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AltaGas Announces the Filing of the Final Prospectus and Pricing for the Initial Public Offering of AltaGas Canada Inc., Which Includes AltaGas' Canadian Utilities and Certain Renewable Power Assets in Canada
AltaGas Announces the Filing of the Final Prospectus and Pricing for the Initial Public Of...
About this update from Altagas Ltd.
[{"type":"text","content":"\n\n\n\nAltaGas Announces the Filing of the Final Prospectus and Pricing for the Initial Public Offering of AltaGas Canada Inc., Which Includes AltaGas' Canadian Utilities and Certain Renewable Power Assets in Canada\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Oct. 18, 2018\n\n\n\nAltaGas continues to execute on its strategy to reshape the company with a focus on Gas and U.S. Utilities \n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n CALGARY, Oct. 18, 2018 /CNW/ - \nFinal pricing for AltaGas Canada Inc.'s (\"ACI\") initial public offering (\"IPO\") at $14.50 per common share (the \"Offering Price\") for between 16,500,000 and 18,975,000 common shares for aggregate gross proceeds from the sale of common shares of between $239 million and $275 million (if the over-allotment option is exercised in full). Total cash proceeds for AltaGas from the IPO are expected to be between $874 and $910 million1, which will be funded by ACI through the sale of common shares and $635 million in debt.2 Upon successful completion of the IPO, AltaGas will exceed its $2.0 billion target on its asset monetization plan with respect to the repayment of its bridge facility, with approximately $2.4 billion expected to be raised.  AltaGas expects to hold common shares of ACI within a range between approximately 37% (if the over-allotment option is exercised in full) to 45% (if the over-allotment option is not exercised) following the IPO.AltaGas Ltd. (AltaGas) (TSX: ALA) announced today that ACI has filed and obtained a receipt for the final prospectus and pricing with respect to the IPO from the securities regulatory authorities in Canada. At the Offering Price, ACI has agreed to sell between 16,500,000 and 18,975,000 common shares for aggregate gross proceeds of approximately $239 million to $275 million (if the over-allotment option is exercised in full). \n\"The successful initial public offering of ACI represents another important milestone in reshaping AltaGas, to focus on ...