BNS.PR.O Starts Off Well

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.

More Later.

Later, More: Curve Price at the close 2008-1-31 was 25.26

2 Responses to “BNS.PR.O Starts Off Well”

  1. […] Not a bad day on the market! The new issues TD.PR.Q and BNS.PR.O settled, trading lots in a tight range slightly above par … however, trading in the ratchet / fix-float / floater section was again terribly sloppy. Volume was reasonable … but still on the light side of normal. […]

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