Hub International Sells Over-Allotment Shares To Underwriters


Press releases

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 Add Title:  Hub International Sells Over-Allotment Shares To Underwriters
 Location:  Chicago
 Date:    2002-06-27  
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Hub International Limited (NYSE:HBG)(TSX:HBG.TO) announced today that J.P. Morgan Securities Inc., on behalf of the Underwriters of the previously announced public offering of 6,000,000 common shares in the United States, has exercised its over-allotment option and acquired 900,000 common shares to cover over-allotments. Total net proceeds to the Company from the exercise of the over-allotment option were US$11,781,000.

On June 21, 2002, Hub International closed its offering of 6,000,000 common shares priced at US$14 per share for net proceeds of approximately US$77.0 million.

J.P. Morgan Securities Inc. was the lead manager for the offering. Co-managers were Cochran, Caronia Securities LLC, Stephens Inc., BMO Nesbitt Burns Corp. and Ferris, Baker Watts, Incorporated.

A prospectus was not filed in Canada. The common shares have not been qualified for sale under the securities laws of Canada or any province or territory of Canada and were not offered for sale in Canada or to any resident of Canada.

Hub International is a leading North American insurance brokerage providing a broad array of property and casualty, life and health, employee benefits, investment and risk management products and services through offices located in the United States and Canada.  

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Hub International Limited
W. Kirk James 312/279-4881
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 SOURCE :   Hub International Limited