Enbridge Raises C$3.0 Billion in Share Sale, Funding Recent Acquisitions

Enbridge Inc. closed its public offering of common shares for gross proceeds of approximately C$3.0 billion.

The energy infrastructure company issued 44,735,000 common shares at C$66.85 per share. This total includes 5,835,000 shares from the full exercise of the underwriters' over-allotment option.

Enbridge will use the net proceeds to partially finance recently announced acquisitions. The funds will also enhance financial flexibility for future growth initiatives and potentially reduce short-term debt.

RBC Capital Markets and CIBC Capital Markets co-led the underwriting syndicate.