Pro-AMS Trust's $1.13B IPO

Pro-AMS Trust completed an initial public offering in Canada for $1.13 billion of units of the trust on March 2, 2001. The trust’s investment objectives are: (i) to return the original issue price of $25 to unitholders upon termination of the trust in December 2012; (ii) to provide monthly distributions targeted to be at least $0.1875 or 8.75 per cent on the original issue price; and (iii) to provide unitholders with capital appreciation above the original issue price. This offering follows a similar offering by another trust managed by Mulvihill Capital Management Inc., Pro-AMS US Trust. Pro-AMS US Trust completed its initial public offering of $570.5 million of trust units in October 2000.

Andrew W. Aziz, Andrew McGuffin and Katy Waugh of Osler, Hoskin & Harcourt LLP represented both trusts in their respective offerings and Mulvihill Capital Management Inc. Shawn McReynolds and Patrick Moyer (corporate) and Ronald Wilson (tax) of Davies Ward Phillips & Vineberg LLP represented the underwriting syndicate led by RBC Dominion Securities Inc.


Andrew W. Aziz D. Shawn McReynolds Katy M. Waugh Andrew S. McGuffin Ronald S. Wilson Patrick E. Moyer


Osler, Hoskin & Harcourt LLP Davies Ward Phillips & Vineberg LLP