Well, I guess we've hit the doldrums again.
To get things rolling, a new instalment receipt appeared on the TSE this week... Apollo gas, known as APO.IR.
Here is the report that appeared on the wires this week. We have an interesting tracking that we could do on this unit, namely that it opened at $6.00 and closed at $5.85. Is this going to be another one of those gas trust units that takes a 'deep six?' (i.e. it goes down)
__________________
Anyways, here's the report, for discussion...
APOLLO GAS INCOME FUND
TORONTO, May 7 /CNW/ - Apollo Gas Income Fund announced today that it has
closed its public offering. The offering of 4,150,000 Units at $10.00 per Unit
was underwritten by HSBC Securities, Nesbitt Burns Inc and TD Securities Inc.
The Units were sold on an instalment basis with the first instalment of $6.00
per Unit paid on closing and the second instalment of $4.00 per Unit payable
on May 7, 1999.
The proceeds of the offering will be used to purchase, through a
subsidiary of the Fund, the direct natural gas purchase business of Enershare
Technology Corporation. Enershare, through a subsidiary, will be the manager
of the business and will hold an approximately 10% interest in the business.
-30-
For further information: contact David Shapira, Executive Vice-President
and Chief Financial Officer of Enershare Management Inc., The Fund Manager, at
(416) 638-9317 |
