Power Corporation of Canada, IGM Financial to Further Invest CA$164 Million in Wealthsimple

06:57 AM EDT, 10/28/2026 (MT Newswires) -- Power Corporation of Canada (POW.TO) and its subsidiary IGM Financial (IGM.TO) participated in Wealthsimple Financial's equity financing round of up to CA$425 million, the companies said Tuesday. Power Corporation agreed to subscribe for class F preferred shares in the capital of Wealthsimple for CA$68 million. IGM agreed to invest an additional CA$96 million, bringing the Power group's total participation to CA$164 million. Wealthsimple's fundraising consists of a CA$300 million primary offering and a secondary offering of up to CA$125 million. The transaction is expected to close in the fourth quarter, subject to customary closing conditions. Following the offering, Power Corporation and its subsidiaries' ownership stake in Wealthsimple will remain substantially unchanged, and IGM will continue to be Wealthsimple's single largest shareholder.