Power Corporation of Canada

Power Corporation of Canada

October 19, 2005 09:09 ET

Power Corporation of Canada: Closing of Preferred Share Issue

MONTREAL, QUEBEC--(CCNMatthews - Oct. 19, 2005) - Power Corporation of Canada (TSX:POW.SV) announced today the successful completion and closing of an offering of $250 million of the Corporation's first preferred shares.

The 10,000,000 Non-Cumulative First Preferred Shares, Series D were priced at $25.00 and carry a 5.00% annual dividend. The shares will be listed and posted for trading on the Toronto Stock Exchange under the symbol "POW.PR.D". Proceeds from the issue will be used to supplement Power Corporation's financial resources and for general corporate purposes.

The issue was bought by an underwriting group led by BMO Nesbitt Burns Inc.

Power Corporation is a diversified management and holding company with interests in financial and communications services in North America. Through affiliates, Power Corporation also holds significant positions in the media and entertainment, energy, water, waste services and specialty minerals sectors in Europe.

Contact Information

  • Power Corporation
    Mr. Edward Johnson
    Senior Vice-President, General Counsel, and Secretary
    (514) 286-7400