Ownership of Potash Corp. of Saskatchewan (TSE) continues to shift more and more to the general public. The Saskatoon-based company said Saskatchewan’s interest in the potash producer is dropping to about 11% from 38%.
Bonds sold by the province in conjunction with the privatization of Potash Corp. in 1989 matured Dec. 1. Each bond with a face value of $100 could be exchanged for 5.55 common shares of Potash Corp. held by the province. The approximate 10.5 million shares owned by the province have been transferred to a broad range of investors.
There are also about 3.7 million warrants exercisable for Potash Corp. which expire Sept. 30, 1994. If all warrants are exercised, the province would be left with an approximate 1% interest in the potash producer.
Be the first to comment on "Province reduces Potash ownership"