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Old May 20, 05, 5:43 am
FlyerTalk Evangelist
Join Date: Mar 2000
Location: Southern Alberta
Posts: 20,554
"Upstart Genuity Capital Markets has snared a co-lead role on the pending Air Canada Aeroplan initial public offering, beating out several bank-owned brokerages for one of the most coveted assignments on Bay Street.

Genuity is a much smaller player than most of the investment banks underwriting Aeroplan's IPO, but it had the inside track to win a senior position because one of its partners, Calin Rovinescu, is a former Air Canada executive who helped design the airline's restructuring.

The Montreal-based airline emerged from 18 months of bankruptcy protection last September.

RBC Dominion Securities Inc. is the lead Aeroplan underwriter and has been handed 25 per cent of the offering to market. CIBC World Markets Inc., with 18 per cent, and Genuity, with 10 per cent, have been named co-leads in ACE Aviation Holdings Inc.'s conversion of its Aeroplan customer loyalty subsidiary into an income trust. ACE is Air Canada's parent company.G&M
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