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Albertans scurrying to buy AGT sharesEDMONTON (CP) — Operators of a special sales line were flooded with calls Wednesday from Albertans wanting to buy shares in Alberla Government Telephones.It was the First day for the government-launched privatization offering that allows people to buy now and pay later for shares in the phone company under its holding company Telus Corp.And some investment dealers say the offer looks good.“I’m buying some myself, said Mike Smith, a chartered financial analyst with Peters and Co. in Calgary. I’m recommending my clients buy it.There seems to be a very, very strong public interest in it, said Greg Seater, manager of Midland Walwyn’s Edmonton office.The offering's very attrac-! live.”Alborlans applying to purchase the shares — expected to be $12 to $13 — within I he next ihree weeks can do it with a down payment of $6. The remainder is due Sept. 30, 1991. The actual price and the size of the offering depends on the interestshown.The government is paying the interest.The final price makes the shares a bargain compared to other phone companies, said Angus Watt, one of the Edmonton investment dealers who helped the province prepare the offering.The government has formulated this so that it's going to be very attractive for Albertans toparticipate, said Watt, vice-president of Levesque Beaubien.The two-instalment plan limits each buyer to 2,700 shares. They have until Sept. 5 to complete application forms, although they can buy extra shares until Sept. 10 if paying in full.Other Canadians can start buying shares only when the initial three-week selling period ends and only at the full price assuming Alberlans don't first snap up Ihe entire issue.If Albertans order more shares than are available, Ihe plan is to reduce individual orders proportionately, so all would-be buyers in the province get some.
Newspaper Details
Lethbridge Herald
Lethbridge, Alberta, CA
Thu, Aug 09, 1990
Page 2
Full Page
Clipped by
Yeeno W.
CA 25 Jun 2023
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