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____ Friday November 6, 2015 ____


Significant Sell off

Hydro One Initial Public Offering Closes

Ontario On Track To Raise $4 Billion For Infrastructure Investments

Queens Park - Ontario is generating significant returns from broadening the ownership of Hydro One Limited, in order to help support the single largest investment in transit and transportation infrastructure in the province’s history - investing $130 billion over ten years and making 110,000 jobs possible each year.

The Initial Public Offering (IPO) has now closed for Hydro One common shares. This initial stake in the company will began trading yesterday on the Toronto Stock Exchange (the “TSX”) under the symbol "H". By proceeding in a careful, staged, and prudent manner over time, the government expects to realize $9 billion in proceeds, $4 billion of which will be invested in infrastructure and $5 billion to reduce debt.

The Province has offered 81,100,000 common shares at $20.50 per share for total gross proceeds to the Province of approximately $1.66 billion, in addition to an option granted to the underwriters, to purchase up to an additional 8,150,000 common shares, which would result in total gross proceeds of approximately $1.8 billion. Approximately 40 per cent of the offering has been allocated to individual retail investors, helping ensure that Ontarians from across the province can participate in the broadened ownership of Hydro One.

The government is committed to invest net revenue gains from the Province’s sale of Hydro One common shares into the Trillium Trust which, in turn, will be used to fund infrastructure projects that will create jobs and strengthen the economy. These proceeds will fund priority projects such as GO Transit Regional Express Rail, Light Rail Transit projects in communities across Ontario, and natural gas network expansion in rural and northern communities.

Maximizing the value of Hydro One is part of the government’s plan to build Ontario up. The four-part plan includes investing in people's talents and skills, making the largest investment in public infrastructure in Ontario's history, creating a dynamic, innovative environment where business thrives, and building a secure retirement savings plan.

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