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Share Name | Share Symbol | Market | Type |
---|---|---|---|
RF Capital Group Inc (PK) | USOTC:GMPXF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.2455 | 5.15 | 5.25 | 0.00 | 15:40:28 |
GMP Capital Inc. (GMP.T), one of Canada's largest independent investment dealers, has agreed to buy New York-based fixed-income boutique brokerage Miller Tabak Roberts Securities LLC for about $33 million.
Miller Tabak specializes in institutional sales, secondary trading and research in high-yield and distressed debt, convertible bonds, international bonds, investment grade and asset-backed securities. GMP said it aims to transform the boutique firm's traditional agency platform into a "formidable" primary business.
In addition to the $33 million in cash to be paid, certain key employees of Miller Tabak will receive $15 million of GMP shares in the deal.
In Toronto Wednesday, GMP is down slightly at C$15.79.
The buy is expected to close before the end of GMP's third quarter, which is Sept. 30.
-By Judy McKinnon, Dow Jones Newswires; 416-306-2100; judy.mckinnon@dowjones.com
1 Year RF Capital (PK) Chart |
1 Month RF Capital (PK) Chart |
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