|Hydro One Limited - H.t is one of North America's largest electricity delivery companies in geographic scope and asset value.|
The company's core businesses earn stable, regulated returns which accounted for almost all of the $747 million in net income earned in 2014.
Hydro One Limited ("Hydro One" or the "Company") (TSX:H) today announced the closing of the secondary offering of 120,000,000 common shares ("Common Shares") of the Company (the "Offering") by the Province of Ontario (the "Province") at a price of $23.25 per Common Share for total gross proceeds to the Province of approximately $2.79 billion. The Company will not receive any of the proceeds from the Offering.
Following completion of the Offering, the Province continues to directly own 296,803,660 Common Shares, representing approximately 49.9% of Hydro One's total issued and outstanding Common Shares.