Air Canada parent ACE Holdings yesterday unveiled the pricing for the initial public offering of its 12.5% stake in the Aeroplan frequent flyer program, revealing that the program is worth C$2 billion (US$1.6 billion). ACE said the Aeroplan Income Fund yesterday signed an agreement with a group of underwriters to sell 25 million units of the fund at C$10 per unit priced as part of the IPO. The final prospectus for the Aeroplan IPO was filed yesterday with the Canadian securities ...

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