Power Corporation Announces Additional Investment in Wealthsimple
Power Corporation of Canada has agreed to invest $100 million in Wealthsimple Financial Corp., Canada's leading financial innovator, as part of a financing round of up to $750 million.
The investment will be made through Power Corporation's subsidiary, Power Financial Corporation, and will consist of Class E Preferred Shares in Wealthsimple.
The fundraising round includes a $550 million primary offering and a secondary offering of up to $200 million, with IGM Financial Inc. also participating.
Readers are referred to the section Forward-Looking Statements at the end of this release.
For more information, please contact 877-269-7890 from 8 AM - 10 PM ET.
Author's summary: Power Corporation invests $100 million in Wealthsimple.