Life & Banc Split (TSE:LBS) has released an update.
Life & Banc Split Corp. has announced a successful overnight offering, expecting to raise about $36.2 million from the sale of Class A and Preferred Shares, with the transaction likely to close by June 26, 2024. This offering includes an over-allotment option for agents to purchase additional shares up to 15% of the Class A Shares sold at closing. The Fund’s portfolio comprises leading Canadian banks and life insurance companies and has historically outperformed key financial indices.
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