Research In Motion Ltd. fell after replacing co-Chief Executive Officers Jim Balsillie and Mike Lazaridis with an insider who said he sees no need for radical change as the company struggles to compete with Apple Inc.
Ming Chao Zhao, a former Bank of Montreal analyst, admitted to engaging in insider trading over an 18-month period and agreed to pay about C$1.19 million ($1.16 million) to settle the case, according to the Ontario Securities Commission.
The initial public offering of shares by MEG Energy Corp., a Canadian oil-sands developer partly owned by China’s Cnooc Ltd. , was reduced by as much as 37 percent, according to two people familiar with the matter.
HealthLease Properties Real Estate Investment Trust and Gateway Casinos & Entertainment Ltd. lead companies set to raise more than C$1 billion ($980 million) in initial public offerings in Canada starting next month, reversing the slowest start for stock sales in four years.
MEG Energy Corp., a Canadian oil- sands developer partly owned by China’s CNOOC Ltd., may raise as much as C$1.25 billion ($1.22 billion) in an initial public offering, according to three people familiar with the sale.
MEG Energy Corp. raised C$700 million ($674 million) in an initial public offering of stock after the Canadian oil-sands developer partly owned by China’s Cnooc Ltd. slashed the deal’s size as much as 37 percent.