By Jennifer Chiou
New York, May 28 - IBI Income Fund announced the wrap of its private placement of trust units for total proceeds of C$14.5 million, including a C$1.5 million over-allotment option.
The fund sold 775,200 trust units at C$12.90 per unit for C$10 million and sold to IBI Group Management Partnership 232,558 units for proceeds of C$3 million.
Raymond James Ltd. exercised in full the greenshoe, which included 116,280 units.
Proceeds are slated for general corporate purposes, including the repayment of debt.
The fund holds an indirect 74.4% interest in IBI Group, a Toronto partnership that provides planning and design services in relation to urban land, building facilities, transportation networks and systems technology.
| Issuer: | IBI Income Fund
|
| Issue: | Trust units
|
| Amount: | C$14.5 million (including C$1.5 million greenshoe)
|
| Units: | 1,124,038
|
| Price: | C$12.90
|
| Investors: | IBI Group Management Partnership (for 232,558 units); Raymond James Ltd. (for 116,280 units)
|
| Settlement date: | May 28
|
| Unit symbol: | Toronto: IBG
|
| Unit price: | C$13.30 at close May 27
|
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