Lysander Funds Limited announced that its Canso Select Opportunities Fund completed its initial public offering at the Toronto Stock Exchange today. Proceeds from the IPO reached USD 90 million. The Fund sold 8,210, 844 Class A units and 789,156 Class F units for USD 10 apiece. The Class F units were not listed on the Toronto bourse as these were made for fee-based and institutional accounts. However, the said shares could be converted to Class A units each month. The ticker symbol of the stock is SCW.UN.

Lead underwriter for the share sale was RBC Capital Markets.  Other agents for the offering were CIBC, Scotiabank, GMP Securities, BMO Capital Markets, National Bank Financial Inc, TD Securities Inc, Canaccord Genuity Corp, Macquarie Private Wealth Inc and Raymond James Ltd.

The Ontario-based investment fund said it was aiming to maximize the total returns of its unitholders. It also sought to give unitholders with attractive cash distributions each month. It would be doing this by looking for opportunities in Canadian and global debt and equity securities.