Manufacturing Industry
ACE Holdings says Jazz Air Income Fund public offering completed
Airline Industry Information, Feb 2, 2006
AIRLINE INDUSTRY INFORMATION-(C)1997-2006 M2 COMMUNICATIONS LTD
Jazz Air Income Fund has completed its CAD235m initial public offering of units, according to ACE Aviation Holdings Inc, the parent company of Air Canada.
The company also said that it expects net proceeds of CAD222m from the offering and that the proceeds will be used for general corporate purposes.
According to Reuters, the fund issued 23.5m units at CAD10 each and the income fund will acquire a 19.1% stake in Jazz Air LP. Jazz is Air Canada's regional carrier.
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