Brp Inc (TSE:DOO) has released an update.
BRP Inc. has announced a secondary offering in which Bain Capital will sell 1,500,000 subordinate voting shares at C$92.90 each via BMO Capital Markets. The transaction will see Bain’s ownership reduce to approximately 16.2% of BRP’s issued shares, with a decrease in voting power from 29.7% to 27.1%. BRP will not profit from the offering as proceeds go directly to the selling shareholder, with the deal expected to close around April 19, 2024.
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