Royal Bank of Canada announces exercise of over-allotment
TORONTO, December 30, 2008 — Royal Bank of
Canada (RY on TSX and NYSE) today announced that the underwriters
of its recent common share offering have exercised their full
over-allotment option to purchase an additional 8,512,500
common shares at $35.25 per share on the same terms as the
offering. The expected closing date of the over-allotment
option is January 6, 2009.
The gross proceeds from the sale of the over-allotment shares
will be approximately $300 million. Gross proceeds from the
common share offering of 56,750,000 common shares and the
over-allotment total approximately $2.3 billion.
The common shares have not been and will not be registered
under the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act"), and may not be offered or sold in the
United States absent registration or an applicable exemption
from registration requirements of the U.S. Securities Act.
The press release shall not constitute an offer to sell or
the solicitation of an offer to buy such common shares in
the United States or in any other jurisdiction where such
an offer is unlawful.
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