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The Scotiabank tower in downtown Toronto is shown in a Wednesday, June 16, 2010 photo. Scotiabank boosted its second-quarter net profit by 14 per cent to $1.8 billion, helped by its Canadian banking and global wealth and insurance segments. That's up from $1.58 billion in the same quarter of 2013.
The Scotiabank tower in downtown Toronto is shown in a Wednesday, June 16, 2010 photo. Scotiabank boosted its second-quarter net profit by 14 per cent to $1.8 billion, helped by its Canadian banking and global wealth and insurance segments. That's up from $1.58 billion in the same quarter of 2013.
(Adrien Veczan/The Canadian Press)

At big discount, Scotiabank’s CI block is a strong seller

Bank of Nova Scotia’s sale of $2.3-billion of shares in CI Financial found strong demand, now that the price is down by about 14 per cent from where it was when Scotiabank initially made the decision to sell.

Scotiabank and CI said that the bank would sell the stock at $31.60 a share. That’s about 14 per cent below where the stock was when Scotiabank told CI privately earlier this month that a sale was in the offing.