The first batch of analyst’s reports on Hydro One, the former distribution and transmission utility owned by the government of Ontario which recently made its initial public offering, has just been published.
In all, according to Bloomberg, eight analysts have published their views on the company that sold 81.1 million common shares at $20.50 a share. That offering raised $1.662 billion. And the IPO, one of the largest privatizations in recent years may grow if the underwriters exercise the 8.15 million common share over-allotment option. If that occurs then the government will raise another $167.1 million.
The eight analysts are split on the company, which could see 15 per cent of its shares held by the public. Of the eight four rank it as a buy while another four rank it as a hold.