Nigel,
Borrowed $$$,$$$,$$$ or, in their case, probably ..
to cover development costs for all those new fun products.
Blue skies & tailwinds,
Bob Borger
Europa XS Tri, Rotax 914, Airmaster C/S Prop.
Little Toot Sport Biplane, Lycoming Thunderbolt AEIO-320 EXP
3705 Lynchburg Dr.
Corinth, TX 76208-5331
Cel: 817-992-1117
rlborger@mac.com
On May 25, 2013, at 2:18 AM, nigel_graham@m-tecque.co.uk wrote:
For you Rotax powered flyers, this announcement by BRP may be of
interest. I was intrigued to learn that despite their eye-watering
pricing, the company is in debit.
Nigel
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Bombardier Recreational Products announced an initial public offering
price of CN$21.50 per share when the company goes public.
At that price ($20.83 U.S.D.) for 12,200,000 shares, the IPO would
generate proceeds of CN$262.4 million (US$254.8 million) for BRP, the
company behind Rotax aircraft engines, Ski-Doo and Lynx snowmobiles,
Sea-Doo watercraft, Evinrude & Johnson outboard engines, and Can-Am=91s
ATVs, side-by-sides and Spyder three-wheeled roadsters.
BRP=92s stock will be listed on the Toronto Stock Exchange, trading
under the symbol =93DOO=94. The IPO closes May 29 and will offer
subordinate voting shares, while the company=92s current owners, a
consortium of the Bombardier and Beaudoin families, Bain Capital and the
Qu=E9bec government=92s public pension plan manager Caisse de d=E9pt
et placement du Qu=E9bec, will hold on to 90% of the company=92s equity.
At $262.4 million, this would represent the largest IPO in Canada this
year. BRP plans to use the proceeds from the IPO to pay down the
company=92s debt.
The IPO is underwritten by BMO Capital Markets, RBC Capital Markets, UBS
Securities Canada Inc., Citigroup Global Markets Canada Inc., acting as
joint bookrunners, and including Wells Fargo Securities LLC, CIBC World
Markets Inc., Desjardins Securities Inc., Scotia Capital Inc., National
Bank Financial Inc. and Robert W. Baird & Co. Incorporated.
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