Stantec Announces $250M Public Offering Of Common Shares; Co. Will Issue From Treasury And Underwriters Will Purchase 2.7M Shares On Bought Deal Basis At A Price Of $92.50
Portfolio Pulse from Benzinga Newsdesk
Stantec Inc. has announced a public offering of common shares, aiming to raise $250 million. The company will issue shares from its treasury, with underwriters set to purchase 2.7 million shares on a bought deal basis.
November 20, 2023 | 9:28 pm
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Stantec Inc. is raising capital through a public offering of common shares, which could dilute existing shareholders but also provide funds for growth or debt reduction.
The announcement of a public offering of common shares typically leads to short-term negative pressure on the stock price due to the potential dilution of existing shares. However, the capital raised can be used for positive growth initiatives or to strengthen the balance sheet, which might be beneficial in the long term.
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