SASKATOON (Staff) – The price of Saskatchewan Wheat Pool shares should be known this week.
The company hoped to have a final version of its prospectus filed with provincial securities commissions by Dec. 21. The main item of interest in the prospectus will be the price at which shares will trade during the in-house trading period Jan. 15 to Feb. 14.
Pool treasurer Erin Canham said it will take seven to 10 days to have the final version of the document printed and distributed to members, but the information will be available from the securities commissions.
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The share price will reflect total value of the company as determined by professional valuators, divided by the number of outstanding shares (about 30 million).
While the price for in-house trading isn’t necessarily the price at which shares will be listed on the Toronto Stock Exchange when public trading begins March 15, Canham said it should be relatively close.
“The selling pressure should be totally removed (once the in-house trading is over), so one would expect the price should trade at or near the same price as the member trading price,” he said. After that, the price will be determined by supply and demand on the stock market.
Meanwhile, a group of pool members opposed to the share offering took their case to the public this week with a newspaper advertisement explaining their case and urging pool members to continue fighting the plan.
John Burton, spokesperson for Co-operating Friends of the Pool, said the company’s refusal to change the proposal leaves opponents with only one option.
“I think it has forced Sask Pool members into the position where the only way they can express their opposition to the plan now is by putting their shares up for sale,” he said.
