One billion for ROF money coming out of this as previously stated by the Liberals.

http://news.ontario.ca/mei/en/2015/09/ontario-moving-ahead-with-broadening-ownership-of-hydro-one.html

News Release

Ontario Moving Ahead With Broadening Ownership of Hydro One

Preliminary Prospectus Filed With the Ontario Securities Commission

Ontario is moving ahead with its plan to broaden the ownership of Hydro One, in order to support the single largest investment in transit and transportation infrastructure in the province's history, along with actions to strengthen Hydro One's performance, customer service and system reliability.

In preparation for the Initial Public Offering, a preliminary prospectus has been filed by Hydro One with the Ontario Securities Commission (OSC) and the other Canadian securities commissions. The prospectus, approved by the Province and the company’s Board of Directors, provides a comprehensive overview of Hydro One, including its operations and its outlook.

The 2015 Budget legislation requires that, by law, the Ontario government remain the largest shareholder of the new company at a minimum 40 per cent and that no other shareholder or group of shareholders would be permitted to own more than 10 per cent. As well, Hydro One would continue to have no role in setting electricity rates. Rates will continue to be set by the independent Ontario Energy Board (OEB). The government has also introduced legislation that would, if passed, strengthen the regulatory powers of the OEB to protect ratepayers and investigate complaints.

Hydro One will now move forward to file an Amended & Restated Prospectus, following the OSC review, and will begin to undertake marketing activities and financial advisor consultations to help set a final share price for the Initial Public Offering (IPO), which the government intends to complete in November.

Maximizing the value of Hydro One is part of the government’s economic plan for Ontario. The four-part plan is building Ontario up by investing in people’s talents and skills, making the largest investment in public infrastructure in Ontario's history, creating a dynamic, innovative environment where business thrives and building a secure retirement savings plan.

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