Brompton Stable Income Fund Completes IPO

Brompton Stable Income Fund completed, on December 9, 2002, its initial public offering of trust untis, raising $50 million in gross proceeds. The net proceeds of the offering will be invested primarily in a portfolio of income trusts selected by the advisor to the fund, FMC Global Investment Management. Led by RBC Dominion Securities Inc., the syndicate of 14 agents included CIBC World Markets Inc., BMO Nesbitt Burns Inc. and TD Securities Inc. The agents exercised an option to purchase 420,000 additional untis for total proceeds under the offering of $54.2 million.

Goodman and Carr LLP represented the fund, with a team that included Lawrence Chernin, Fraser McDonald, Ramandeep Grewal and Peter Laflamme (securities) and Yvette Morelli (tax). McCarthy T├ętrault LLP represented the agents, with a team that included Ronald Schwass and Michael Valihora (securities) and James Morand (tax).