Posted on 25/01/06
Jazz fund's annual yield established at 8.75 per cent
Jazz Air Income Fund will have an annual yield of 8.75 per cent, says ACE Aviation Holdings Inc., the parent company of Air Canada and the regional Jazz airline. ACE said yesterday that it will sell 23.5 million trust units at $10 apiece in the first tranche of Jazz's initial public offering. Assuming an overallotment option to sell another 3.525 million units is exercised, ACE will end up with a 78-per-cent stake in Jazz.
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