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NOVA CORPORATION OF ALBERTA - CLOSES PUBLIC OFFERING

 NOVA CORPORATION OF ALBERTA - CLOSES PUBLIC OFFERING
 CALGARY, Alberta, April 28 /PRNewswire/ -- Nova Corporation of


Alberta (NYSE: NVA) announced today that it has closed the recently announced public offering of 42 million common shares at a price of Cdn.$7.50 per share in Canada and Europe, and at the U.S. dollar equivalent of U.S.$6.356 per share for the United States. Net proceeds of $302 million will be used to reduce non-cost-of-service debt.
 As part of the transaction, the underwriters were given an option at the price of Cdn.$7.50 per share to acquire up to 3 million common shares to cover over-allotments. If this option, which expires on May 12, 1992, is fully exercised, Nova will have issued 45 million common shares and received net proceeds of $323 million.
 Nova is a widely held company operating internationally from headquarters in Calgary, Alberta, Canada. Nova builds its future on pipelines, and the manufacturing and marketing of chemicals produced primarily from Alberta natural resources.
 -0- 4/28/92
 /CONTACT: R. C. Milner, 403-290-7788, C. A. Read, 403-290-7807, both of Nova Corporation of Alberta/
 (NVA) CO: Nova Corporation of Alberta ST: Alberta IN: OIL SU:


SH -- NY027 -- 3623 04/28/92 09:38 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Apr 28, 1992
Words:207
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