Sunday, June 1, 2008

Same Company More of Your Cash

This from The National Post:
The Ontario Teachers’ Pension Plan, which injected a lifesaving 35 million ($35.4 million) Canadian dollars into hybrid locomotive maker RailPower Technologies in January, has ponied up another 20 million Canadian dollars to help the company build a new factory in Quebec.
Teachers’ investment is in the form of a convertible debenture, the same way it put money into the company in January. If both debentures are eventually converted to common shares, Teachers would own about 75 per cent of RailPower, which is based in the Montreal suburb of Brossard.
Read about the initial investment here.
Current RailPower Technologies stock price: TSE:P

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