On December 14, 2004, Addenda Capital Inc. completed its initial public offering of common shares by way of secondary offering.

The 10 per cent over-allotment option granted to the underwriters was exercised in full on December 22, 2004. The selling shareholder, Caisse de dépôt et placement du Québec, sold a total of 6,730,850 shares under the initial public offering and the exercise of the over-allotment option for total gross proceeds of $114,424,450.

Addenda, now listed on the Toronto Stock Exchange, is an investment management firm specializing in the active management of fixed-income portfolios, primarily for institutional clients.

The offering was underwritten by a syndicate of underwriters co-led by CIBC World Markets Inc. and National Bank Financial Inc., and including Desjardins Securities Inc., Dundee Securities Corp., First Associates Investments Inc. and GMP Securities Ltd.

The underwriters were represented by Fasken Martineau with a team that included Louis-François Hogue (corporate/securities), Pierre-Yves Châtillon (corporate/compliance), Frédéric Boucher (securities), Patricia Gagnon and Tasha Lackman (corporate) and Gilles Carli and Thomas Copeland (tax).