DPF India Opportunities closes IPO for $250-million
2007-08-14 07:56 MT - News Release
Ms. Myra Reisler reports
DPF INDIA OPPORTUNITIES FUND CLOSES INITIAL PUBLIC OFFERING AT $250 MILLION
Goodman & Company, Investment Counsel Ltd., manager of the Dynamic family of mutual funds, has learned that DPF India Opportunities Fund has completed its initial public offering today at its maximum offering size of $250-million.
At closing, the fund issued 25 million units at a price of $10 per unit, for gross proceeds of $250-million. Each unit consists of one trust unit and one warrant. The fund's trust units and warrants commenced trading today on the Toronto Stock Exchange under the symbols DPF.UN and DPF.WT, respectively.
Subject to certain restrictions as described in the final prospectus of the fund dated Aug. 2, 2007, each warrant entitles the holder to purchase one trust unit at a subscription price of $12.50 per unit on or before Aug. 14, 2010. The fund has granted the agents an overallotment option to acquire up to an additional 3.75 million trust units at a price of $9.40 per additional trust unit and/or an additional 3.75 million warrants at a price of 60 cents per additional warrant, which is exercisable in whole or in part at any time during the next 30 days.
The syndicate of agents is co-led by GMP Securities LP and Dundee Securities Corp., and includes BMO Nesbitt Burns Inc., Canaccord Capital Corp., CIBC World Markets Inc., TD Securities Inc. and RBC Dominion Securities Inc.
A final prospectus dated Aug. 2, 2007, relating to these securities has been filed with the securities regulatory authority in each of the provinces and territories of Canada.
We seek Safe Harbor.
