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Calgary-based Pembina Pipeline closed its public offering of 10,000,000 class A preferred shares Thursday and booked aggregate gross proceeds of $250 million.

The offering was announced on September 2, 2014.

The shares will begin trading on the Toronto Stock Exchange today under the symbol PPL.PR.G.

Dividends are expected to be $0.2813 quarterly, or $1.125 per share on an annualized basis.

The proceeds from the offering will be used to help fund Pembina’s proposed purchase of the Vantage pipeline system and the Saskatchewan ethane extraction plant from Calgary-based Mistral Midstream and other affiliates of New York-based private equity firm Riverstone Holdings.

The money will also be used for general corporate purposes and to partially fund the remainder of the company’s 2014 capital expenditure program.

The transaction is subject to regulatory approvals.

Pembina owns and operates pipelines that transport various hydrocarbon liquids including conventional and synthetic crude oil, heavy oil and oil sands products, condensate and natural gas liquids produced in western Canada.

The company also owns and operates gas gathering and processing facilities and an oil and natural gas liquids infrastructure and logistics business.