Mutual life holders to be first to cast votes on going public
Article Abstract:
The policyholders of Mutual Life Assurance Company of Canada will meet on June 10, 1999, in Waterloo, Ontario, to vote, either in person or proxy, on the insurer's plan to go public. The board of directos has unanimously recommended the IPO plan to policyholders. The stock market value of Mutual Life is expected to range from $3.4-$4.5 billion, or an average of $3,780 to $5,000 for each policyholder, who will receive windfall shares or cash as a result of the conversion.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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Manulife customers expected to split as much as $12-billion
Article Abstract:
Manufacturers Life Insurance Co's policy holders stand to earn C$9 billion to C$12 billion in windfall shares and cash if the Canadian insurer goes public. The estimate was calculated based on what the market would have valued the company had it launched its initial public offering in late Mar 1999. Policy holders are scheduled to vote on the company's demutualization plan on Jul 29, 1999.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
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