UPDATE 1-Tricon completes C$63 mln IPO, starts trading

* Sells 10.5 mln shares at C$6 per share

* Common shares begin Toronto trading

TORONTO, May 20 (BestGrowthStock) – Tricon Capital Group Inc
(TCN.TO: ) said on Thursday it completed its C$63 million ($58.9
million) initial public offering of 10.5 million common shares
and began trading on the Toronto Stock Exchange.

The issue is a sign Canada’s IPO market is sputtering back
to life after a dearth of offerings in 2008 and 2009.

Tricon offered 10.5 million common shares at C$6 a share.
Underwriters have been granted an over-allotment option,
exercisable for 30 days following the closing, to purchase up
to 1.5 million additional shares at the same price.

If exercised in full, the option will increase the total
gross proceeds of the offering to C$72 million.

The offering was underwritten by a syndicate led by GMP
Securities and including Canaccord Genuity Corp, CIBC World
Markets, National Bank Financial and TD Securities.

The common shares began trading on the Toronto Stock
Exchange and were unchanged at C$5.90 a share.

So far this year initial public offerings in Canada have
raised some C$2.8 billion, including over-allotments, compared
with C$1.97 billion in all of 2009 and some C$700 million in
2008, according to Thomson Reuters data.

Investment Advice

($1=$1.07 Canadian)
(Reporting by Andrea Hopkins; editing by Janet Guttsman)

UPDATE 1-Tricon completes C$63 mln IPO, starts trading