BNS.PR.L commenced trading today, after having been announced January 8. Scotia announced today that the underwriters’ over-allotment privilege had been exercised to the tune of 1.8 million shares, bringing the total size of the issue to 13.8 million shares valued at $345-million.
The issue traded a healthy 387,831 shares in a range of 24.98-08. The closing quotation was 25.07-09, 67×50.
There may be a little more value left in this issue, as HIMIPref™ calculates a curvePrice of $25.26:
|Curve Price Comparison
|Price due to base-rate||23.19||24.07|
|Price due to short-term||0.04||0.04|
|Price due to long-term||0.57||0.58|
|Price due to Liquidity||1.50||0.67|
|Price due to error||-0.03||-0.01|
The issue has been added to the “PerpetualPremium” Index as of 1/24.