Enbridge Inc. has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets and CIBC Capital Markets to purchase 38,900,000 common shares on a bought deal basis, generating aggregate gross proceeds of CDN$2.6 billion at an offering price of CDN$66.85 per share. The company intends to use the net proceeds to partially fund announced acquisitions and to create financial flexibility for potential future growth opportunities, with a portion possibly used to reduce indebtedness or invested in short-term liquid investments. The offering is expected to close on or about September 14, 2026, and the underwriters have an option to purchase up to 15% additional shares to cover over-allotments, which if exercised in full would bring total gross proceeds to approximately CDN$3.0 billion. The shares will be offered in Canada and the United States through prospectus supplements, and may also be offered on a private placement basis in other jurisdictions.
Canadian Imperial Bank Of Commerce
Royal Bank of CanadaEnbridge IncEquity offering dilutes existing shareholders.
