The new Royal Bank Fixed-Reset, 6.25%+406 announced February 26 was soft on its opening day.
It traded 361,200 shares in a range of 24.70-82 before closing at 24.76-77, 10×214.
As is its wont, Royal has not announced the take-up, or lack thereof, of the greenshoe option.
Update, 2009-3-12: There are 11-million shares outstanding according to the TSX; announced size was 8-million + 3-million greenshoe; therefore the greenshoe was fully exercised.
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