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    GWO   CA39138C1068

GREAT-WEST LIFECO INC.

(GWO)
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Great West Lifeco : completes offering of Preferred Shares

10/08/2021 | 08:38am EST

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

TSX:GWO

WINNIPEG, MB, Oct. 8, 2021 /CNW/ - Great-West Lifeco Inc. ("Lifeco") announced today the closing of its previously announced offering of 8,000,000 4.50% Non-Cumulative First Preferred Shares, Series Y (the "Series Y Preferred Shares") for gross proceeds of $200 million. The offering was completed through a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets, Scotiabank, CIBC Capital Markets and TD Securities. The Series Y Preferred Shares will be listed for trading on the Toronto Stock Exchange under the symbol "GWO.PR.Y".

The Series Y Preferred Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Series Y Preferred Shares in any State in which such offer, solicitation or sale would be unlawful.

Great-West Lifeco
Great-West Lifeco Inc. is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. We operate in Canada, the United States and Europe under the brands Canada Life, Empower Retirement, Putnam Investments, and Irish Life. At the end of 2020, our companies had approximately 24,500 employees, 205,000 advisor relationships, and thousands of distribution partners – all serving our more than 30 million customer relationships across these regions. Lifeco and its companies have approximately $2.2 trillion in consolidated assets under administration as of June 30, 2021 and are members of the Power Corporation group of companies. Lifeco trades on the Toronto Stock Exchange under the ticker symbol GWO. To learn more, visit www.greatwestlifeco.com.

SOURCE Great-West Lifeco Inc.

© Canada Newswire, source Canada Newswire English

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Analyst Recommendations on GREAT-WEST LIFECO INC.
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Financials
Sales 2021 66 951 M 52 182 M 52 182 M
Net income 2021 3 151 M 2 456 M 2 456 M
Net Debt 2021 - - -
P/E ratio 2021 10,9x
Yield 2021 4,75%
Capitalization 34 298 M 26 775 M 26 732 M
Capi. / Sales 2021 0,51x
Capi. / Sales 2022 -
Nbr of Employees 24 500
Free-Float 26,2%
Chart GREAT-WEST LIFECO INC.
Duration : Period :
Great-West Lifeco Inc. Technical Analysis Chart | GWO | CA39138C1068 | MarketScreener
Technical analysis trends GREAT-WEST LIFECO INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Last Close Price 36,86 CAD
Average target price 40,80 CAD
Spread / Average Target 10,7%
EPS Revisions
Managers and Directors
Paul Anthony Mahon Co-President, Chief Executive Officer & Director
Jeffrey F. Macoun Co-President & Chief Operating Officer
Garry MacNicholas Chief Financial Officer & Executive Vice President
Robert Jeffrey Orr Chairman
Steven Michael Rullo Global Chief Information Officer & Executive VP
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