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IGM Financial Announces Closing of Preferred Share Issue

  //business-finance.news-articles.net/content/200 .. -announces-closing-of-preferred-share-issue.html
  Published in Business and Finance on Tuesday, December 8th 2009 at 5:56 GMT by Market Wire
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WINNIPEG, MANITOBA--(Marketwire - Dec. 8, 2009) - IGM Financial Inc. (IGM)(TSX:IGM) announced today the successful completion and closing of an offering of 5.90% Non-Cumulative First Preferred Shares, Series B (the "Series B Shares"), priced at $25.00 per share to raise gross proceeds of $150 million.

The issue was bought by an underwriting group co-led by BMO Capital Markets and by RBC Capital Markets.

The Series B Shares will be listed and posted for trading on the Toronto Stock Exchange under the symbol "IGM.PR.B". Proceeds from the issue will be used to supplement IGM Financial's financial resources and for general corporate purposes.

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

IGM Financial Inc. is one of Canada's premier personal financial services companies, and one of the country's largest managers and distributors of mutual funds and other managed asset products, with over $118 billion as of November 30, 2009 in total assets under management. Its activities are carried out principally through Investors Group, Mackenzie Financial Corporation and Investment Planning Counsel. IGM Financial Inc. is a member of the Power Financial Corporation group of companies.