BNS.PR.O, which caused a sharp downdraft when it was announced got off to a solid start today, trading 550,670 shares to close at 25.02-08, 48×20.
Not only that, but the greenshoe was fully exercised:
Scotiabank today announced that it completed the domestic offering of 9.2 million, 5.60% Non-cumulative Preferred Shares Series 17 (the “Preferred Shares Series 17”), including the full exercise of the over-allotment option, at a price of $25.00 per share. The gross proceeds of the offering were $230 million.
The offering was made through a syndicate of investment dealers led by Scotia Capital Inc. Following the successful sale of the initially announced 8 million Preferred Shares Series 17, the syndicate fully exercised the over-allotment option to purchase an additional 1.2 million shares. The Preferred Shares Series 17 commence trading on the Toronto Stock Exchange today under the symbol BNS.PR.O.
Later, More: Curve Price at the close 2008-1-31 was 25.26