Colliers International Group Inc. Announces $300M Bought Deal Public Offering Of Equity
Portfolio Pulse from Benzinga Newsdesk
Colliers International Group Inc. (NASDAQ:CIGI) announced a $300M bought deal public offering of 2,479,500 subordinate voting shares at $121 each, led by BMO Capital Markets and J.P. Morgan. The offering, closing on Feb 28, 2024, includes an over-allotment option of 15%. Proceeds will repay credit facility balances and fund future acquisitions and growth.
February 22, 2024 | 10:15 pm
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Colliers International announces a $300M public offering to fund acquisitions and growth, potentially impacting its financial flexibility positively.
The public offering by Colliers is a significant financial move, aimed at repaying debt and funding future growth. This could be viewed positively by investors as it indicates the company's proactive approach to managing its finances and investing in future opportunities. The offering's success and the subsequent use of proceeds for growth initiatives could potentially enhance the company's market position and financial health, leading to a positive short-term impact on its stock price.
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