Bank of Montreal announced the issue and sale of common shares pursuant to a public offering and a concurrent private placement for gross proceeds totaling approximately C$3.15B. This follows the announcement by the Office of the Superintendent for Financial Institutions, OSFI, of its intention to increase the domestic stability buffer, DSB, for Domestic Systemically Important Banks, D-SIBs. Pursuant to the public offering, the Bank has agreed to issue and sell 11.8M common shares at a price of C$118.60 per common share for total gross proceeds of approximately C$1.4B. The public offering is being underwritten on a bought-deal basis by a syndicate of underwriters led by BMO Capital Markets.
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