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Ontario selects Scotiabank, RBC to lead Hydro One IPO

Reuters

TORONTO (Reuters) - The government of Ontario has selected investment banks Scotiabank and RBC Capital Markets as bookrunners for the initial public offering of electric utility Hydro One.

The fees for the bookrunners will be 1 percent for institutional investors and 3 percent for retail investors, the province said in a statement on Wednesday.

The government said earlier this year that 15 percent of Hydro One would be offered in a public offering.

(Reporting by John Tilak; Editing by Jeffrey Benkoe)