Canadian Press
The Ontario Teachers’ Pension Plan has increased its stake in NuVista Energy Ltd. to about 18.14% with the purchase of 3.5 million shares in the company.
The pension fund manager paid $9.50 per share to increase its holdings to just over 18 million shares in the oil and gas company.
The shares sold to Teachers’ were part of a larger financing by NuVista, which also sold 3.5 million shares to Bissett Investment Management, a division of Franklin Templeton Investments Corp., under the same terms.
NuVista also closed a public offering of 3.5 million shares with a syndicate of underwriters led by TD Securities at the same price.
Shares in NuVista closed down 30 cents at $9.36 on the Toronto Stock Exchange on Tuesday.