John's Feed
Jun 17, 2015

Alignvest set to raise C$225 million via IPO on Toronto Exchange

TORONTO, June 17 (Reuters) – Alignvest Acquisition Corp, an
investment company set up primarily to buy an operating asset,
said on Wednesday it is raising almost double the money it set
out to generate via an initial public offering on the Toronto
Stock Exchange.

The Toronto-based company said it plans to sell 22.5 million
units at C$10 a unit and raise C$225 million ($184 million). It
had initially set out to raise C$125 million by selling 12.5
million units at C$10 apiece.

Jun 15, 2015

Sun Life to acquire real estate manager Bentall Kennedy for C$560 million

MONTREAL, TORONTO June 15 (Reuters) – Sun Life Financial
said Monday it is acquiring North American real estate
investment manager Bentall Kennedy Group for C$560 million, as
part of the financial services group’s larger strategy to expand
its capabilities in commercial property.

Through the deal, Bentall Kennedy, which provides property
management, real estate investment and leasing services in
Canada and the United States, will become a unit of Sun Life
Investment Management, Sun Life said in a news release.

Jun 10, 2015

Asia seen as sweet spot for U.S. investors

NEW YORK (Reuters) – Asia is quickly becoming a “sweet spot” for U.S. investors eager to boost portfolio returns at a time the bull market in U.S. stocks is expected to lose some steam, a top hedge fund investor said.

Hedge fund managers in Singapore and Hong Kong can pick from a huge number of companies that are often followed less closely by analysts than are U.S. companies, leaving plenty of room to make money, Michael Weinberg, chief investment strategist at Protege Partners said at the 2015 Reuters Wealth Management Summit.

Jun 9, 2015

Asia seen as sweet spot for U.S. investors

NEW YORK, June 9 (Reuters) – (For other news from Reuters
Wealth Management Summit, click here)

Asia is quickly becoming a “sweet spot” for U.S. investors
eager to boost portfolio returns at a time the bull market in
U.S. stocks is expected to lose some steam, a top hedge fund
investor said.

Jun 8, 2015

Shop.ca weighs IPO within next year after raising cash

TORONTO (Reuters) – Canadian e-commerce start-up Shop.ca is looking at going public within the next year to take advantage of robust investor appetite for the country’s technology sector, its top executive said.

The company raised C$20 million ($16.11 million) from strategic and institutional investors in a recent funding round led by Scotiabank, Chief Executive James Haggarty said in a recent interview. That brought its fundraising to date to C$75 million.

Jun 4, 2015

Credit Suisse expands Canadian energy team as asset demand grows

TORONTO, June 4 (Reuters) – Credit Suisse is
building a specialized team in Canada to take advantage of an
increase in interest from big energy and financial players in
oil and gas assets that have been put on the block by companies
weakened by lower oil prices.

Senior Credit Suisse executives said on Thursday the bank is
putting together an acquisition and divestiture (A&D) team that
will initially be comprised of two or three members, and that is
likely to be expanded in time.

Jun 1, 2015

AngloGold in exclusive talks with Newmont on Colorado mine: sources

TORONTO/VANCOUVER (Reuters) – Newmont Mining Corp (NEM.N: Quote, Profile, Research, Stock Buzz) is in exclusive talks with AngloGold Ashanti Ltd (ANGJ.J: Quote, Profile, Research, Stock Buzz) as it moves closer toward clinching a deal to buy the African miner’s Cripple Creek & Victor gold mine in Colorado, according to two sources familiar with the matter.

A sale could be finalized soon, and the price for the gold asset is likely to be well below the $1 billion that was initially speculated on by analysts, said the sources, who asked not to be named as they are not authorized to discuss the matter publicly.

May 29, 2015

Scotiabank 2nd-quarter profit tops estimates, to buy back shares

TORONTO, May 29 (Reuters) – Bank of Nova Scotia
reported a quarterly profit that beat market expectations on
Friday as earnings grew at its Canadian banking division, and
said it plans to buy back shares.

The second-quarter report from the country’s third-largest
lender rounds up the results of the six major Canadian banks,
all of which beat earnings expectations. Three of them, Bank of
Montreal, National Bank of Canada and Canadian
Imperial Bank of Commerce, also raised their dividends.

May 28, 2015

RBC profit tops expectations on domestic banking, capital markets

TORONTO, May 28 (Reuters) – Royal Bank of Canada,
the country’s top lender, posted a better-than-expected
quarterly profit on Thursday, helped by strength in its domestic
banking and capital markets divisions.

Net income in the company’s Canadian banking segment climbed
7 percent in the second quarter, supported by healthy fee-based
revenue growth.

May 28, 2015

TD profit beats estimates on Canadian retail, wholesale strength

TORONTO, May 28 (Reuters) – Toronto Dominion Bank
posted a quarterly profit that beat market expectations on
Thursday, driven by strong growth in its Canadian retail and
wholesale businesses.

The Canadian retail segment recorded an 8 percent rise in
the second quarter, forming a big part of the company’s overall
earnings. It was supported by loan and deposit volume growth,
new asset growth in the wealth business and gains in insurance.