Manulife Financial Corp. and Electricity Distributor

electricity distributor: The government hopes to raise $9 billion from the partial sale, with $5 billion earmarked for hydro debt and $4 billion going to fund public transit projects, according to The Toronto Star. The sale will begin with an IPO of 15 per cent. Passage of the Liberals' omnibus budget bill earlier this month cleared the way for the sale of 60 per cent of Hydro One, the giant transmission utility that also serves as a local electricity distributor for 1.3 million customers. That would be Canada largest IPO since the $2.49 billion sale by Manulife Financial Corp. in 1999, according to Bloomberg. The passage of the budget bill also removed oversight by legislative officers such as the auditor general and ombudsman, a move both opposition parties have criticized. The fees for Scotiabank and RBC Capital Markets will be one per cent for institutional investors and three per cent for retail investors. (news.financializer.com). As reported in the news.