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Gold/Mining/Energy : TD - Toronto Dominion Bank -- Ignore unavailable to you. Want to Upgrade?

To: Thomas Kelly who wrote (186)	5/3/1999 12:55:00 PM
From: Elroy	Read Replies (2) \| Respond to of 358

I think TD Waterhouse will get IPO proceeds. How else would they pay off the $108 million in debt to TD Bank which is specified as one use of the proceeds? TD Waterhouse will operate as a separate entity, but TD Bank will own 90% of the stock. For a similar scenario, check out Dupont Photomasks (DPMI), a spinoff from DuPont. DPMI operates as a separate entity with separate management, offices, etc., but Dupont Company owns 70% of the shares outstanding.