Canadian Life Companies Split Corp Completes Initial Public Offering of CDN $205,051,950.TORONTO -- Canadian Life Companies Split Corp. ("CLC (The Computer Language Company Inc.) The publisher of this Encyclopedia. See About this product. Split")(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :LFE)(TSX:LFE.PR.A) has completed its initial public offering of 8,202,078 Preferred Shares and 8,202,078 Class A Shares of the Corporation for aggregate gross proceeds of $205,051,950. The shares have begun trading on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbols LFE (Class A shares) and LFE.PR.A (Preferred shares). The fund's investment objectives are: Preferred Shares: i. to provide holders of the Preferred Shares with fixed, cumulative preferential monthly cash dividends in the amount of $0.04375 per Preferred Share to yield 5.25% per annum on the original issue price; and ii. on or about December 1, 2012 (termination date), to pay the holders of the Preferred Shares the original issue price of those shares. Class A Shares: i. to provide holders of the Class A Shares with regular monthly cash dividends initially targeted to be $0.10 per Class A Share to yield 8.0% per annum on the original issue price; and ii. on or about December 1, 2012 (termination date), to pay the holders of Class A Shares at least the original issue price of those shares. The net proceeds from the offering will be used by CLC Split to invest in a portfolio of four publicly traded Canadian life insurance companies as follows: Great-West Life Industrial Alliance Manulife Financial Sun Life Financial Shares held within the Portfolio are expected to range between 10-30% in weight but may vary from time to time. To generate additional returns above the dividend income earned on the portfolio, CLC Split will write a selective amount of covered call options on approximately 25% of the securities in the portfolio. CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company and RBC Capital Markets RBC Capital Markets is the corporate and investment banking division of Royal Bank of Canada ("RBC"). Broker dealers Depending on the jurisdiction, the division uses different broker dealer subsidiaries of RBC:
 This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . Inc., TD Securities Inc., Desjardins Securities Inc., HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) Securities (Canada) Inc., Canaccord Capital Corporation, Dundee Securities Corporation, Raymond James Ltd, Bieber Securities Inc., First Associates Investments Inc., Richardson Partners Financial Limited and Wellington West Capital Inc. Please visit the Canadian Life Companies Split Corp. website at www.lifesplit.com. CANADIAN LIFE COMPANIES SPLIT CORP. (TSX:LFE) (TSX:LFE.PR.A) |
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