The provincial government has completed a secondary offering of Hydro One shares on the TSX raising it to $1.7 billion and more than 72.4 million shares in Hydro One were sold at $23.65 each.
Ontario Power Generation, which is owned by Crown Corporation, purchased nine million shares, defining about 1.5% of stock in Hydro One.
Ontario could sell nearly 10.9 million more shares at the equal price to raise an added $257.8 million.
The initial public offering by Hydro One on the TSX is one of the biggest IPOs in Canada in 15 years, which was completed back on Remembrance Day in 2015.
Ontario’s plan to sell 60% of the transmission utility has sparked response from both the Conservatives and NDP’s, who have shown concerns that will rob Ontario from long-term revenue and at the same time driving up electricity rates.