Power Corporation Announces Additional Investment in Wealthsimple
Power Corporation of Canada ("Power Corporation" or "Power") (TSX: POW) (TSX: POW.PR.E) announced today that it has agreed...
Power Corporation of Canada (“Power Corporation” or “Power”) (TSX: POW) (TSX: POW.PR.E) announced today that it has agreed to subscribe, through its subsidiary Power Financial Corporation, for Class F Preferred Shares in the capital of Wealthsimple Financial Corp. (“Wealthsimple”), for an aggregate purchase price of $68 million, as part of a financing round of up to $425 million by Wealthsimple. The fundraising consists of a $300 million primary offering and a secondary offering of up to $125 million. IGM Financial Inc. (“IGM Financial”), a subsidiary of Power Corporation, today also announced its own participation of $96 million, bringing the Power group’s total participation in the offering to $164 million. The transaction is led by GIC and also includes ICONIQ, CPP Investments, and Inovia.
Power Corporation’s direct equity interest [1] in Wealthsimple is valued at $2.0 billion based upon the value of the offering, an increase of 13% compared to the second quarter of 2026, and $2.1 billion including the $68 million being invested as part of the offering. Following the offering, Power and its subsidiaries’ ownership interest in Wealthsimple will remain substantially unchanged.
The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2026.
[1] Representing its interest held through Power Financial and Portag3 Ventures Limited Partnership.
About Wealthsimple
Wealthsimple is Canada’s leading financial innovator. The company offers a full suite of simple, sophisticated financial products across chequing and spending, managed investing, self-directed trading, and tax filing. Wealthsimple serves more than 3.8 million Canadians, excluding tax filers, and holds approximately $169 billion in assets under administration, as of September 30, 2026. The company was founded in 2014 by a team of financial experts and technology entrepreneurs, and is headquartered in Toronto. To learn more, visit www.wealthsimple.com.
About Power Corporation
Power Corporation is an international management and holding company that focuses on financial services in North America, Europe and Asia. Its core holdings are leading insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms. To learn more, visit www.powercorporation.com.
Source : Power Corporation of Canada
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