Clarington Corp. has priced its initial public offering at about $67.6 million.

The Toronto-based fund company is going public via a secondary offering. It has priced the deal at $13.50 per share and is selling slightly more than five million shares for total proceeds of $67,636,647. As the deal is a secondary offering by some of the firm’s key shareholders, none of this money is going to the firm itself, unless the underwriters exercise their over-allotment option.

The deal is being led by Scotia Capital Inc., with participation from RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc. and TD Securities Inc. They will share an underwriting fee of about $4 million. If the over-allotment option is exercised in full, the total price to the public will be $74.4 million, the underwriters’ fee will be nearly $4.5 million, the net proceeds to the corporation will be nearly $6.4 million and the net proceeds to the selling shareholders will be $63.6 million.

The Toronto Stock Exchange has conditionally approved the listing of the common shares, which will trade under the symbol ‘‘CFI’’. The deal is expected to close on Dec. 10.