Canadian Underwriter

Hub receives US$11.8 million for over-allotment

June 27, 2002   by Canadian Underwriter

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Following the sale of 6 million common shares last week, for net proceeds of US$77 million, broker consolidator Hub International (TSX, NYSE: HBG) has also netted US$11.8 million in an over-allotment offering.
J.P. Morgan Securities, on behalf of a group of underwriters, exercised the option to acquire 900,000 common shares. Also among the group were Cochran, Caronia Securities LLC, Stephens Incorporated, BMO Nesbitt Burns Corporation and Ferris, Baker Watts, Incorporated.
The offering was made on the U.S. exchange, and not in Canada.

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