Ontario to Sell 15% of Hydro One in IPO

Ontario will sell a 15 percent stake of Hydro One Inc. in an initial public offering worth as much as C$2.25 billion ($1.84 billion), making it one of the largest in Canadian history.

The provincial government will ultimately sell as much as 60 percent of the electricity utility, raising C$9 billion for debt repayments and infrastructure, while leaving it the biggest shareholder. The utility is estimated to be worth about C$15 billion, according to an advisory report to the government released on Thursday.