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- QSE index closes lower
- Hamad Port handles 133,112 TEUs container volumes, RORO sees 48% increase in June
- Bahrain All Share Index marks 1,946.83 points
- Youth-led businesses in Saudi Arabia account for over a third of all commercial registrations
- Oman Cables accelerates sustainable growth by obtaining EPD certifications
- Emirates NBD closes $1bn finance deal for Dubai Metro Blue Line project
- Gulf Countries Committed to Completing GCC Railway Project for Development & Prosperity
- US rate uncertainty concerns QSE as index eases; yet M-cap adds QR2.83bn
- Bahrain, US firms sign $17bn in deals to deepen economic ties, news agency BNA says
- Closing Bell: Saudi main index closes in red at 11,038
22/08/2009 00:00 AST
Western Financial Group Inc (WES.TO) said it would offer up to C$30 million ($27.4 million) of certain preferred shares at C$100 apiece.
The company said it would offer a minimum of C$15 million and a maximum of C$30 million of preferred shares, and use the proceeds for general corporate purposes and fund ongoing capital requirements of its units.
The preferred shares will be convertible into common shares at any time at the holders option at C$2.81 per common share, Western Financial said.
The preferred shares will be entitled to fixed cumulative cash dividends of C$9.00 per share per annum, the company said.
The financing is expected to close on Sept. 3.
Shares of the High River, Alberta-based company were trading down 7 percent at C$2.10 Thursday afternoon on the Toronto Stock Exchange.
Reuters
| Ticker | Price | Volume |
|---|
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 36,581.76 | -251.51 (-0.68 |
| DAX | 18,699.40 | 181.01 (0.97 |
| S&P 500 | 5,626.02 | 30.26 (0.54 |
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