- Bombardier (BBD.A) announced the company intends to sell all of its shares in French multinational rolling stock manufacturer Alstom
- Bombardier currently owns 11,504,149 shares in Alstom
- Bombardier plans to divest the shares in an accelerated bookbuild offering to qualified investors
- Following completion of the offering, it is expected that Bombardier will have fully exited its 3.1 per cent stake in Alstom’s common stock
- Class A shares of Bombardier are down 0.87 per cent, trading at C$1.14 at 11:06 am ET
Bombardier (BBD.A) announced the company intends to sell all of its shares in French multinational rolling stock manufacturer Alstom.
Bombardier currently owns 11,504,149 shares in Alstom, which is active in the fields of passenger transportation, signalling, and locomotives.
Bombardier plans to divest the shares in an accelerated bookbuild offering to qualified investors. A bookbuild is a process through which a company generates, captures and records investor demand when raising capital. The intention is to achieve the best price in the sale of the shares.
Following completion of the offering, it is expected that Bombardier will have fully exited its 3.1 per cent stake in Alstom’s common stock. Alstom shares are listed on the regulated market of Euronext in Paris.
The sale by Bombardier does not constitute a public offering other than to qualified investors in any jurisdiction, including in France.
Book-building of the offering will start immediately and Bombardier will announce the results of the offering at the end of the book-building process.
Headquartered in Montreal, Bombardier is a global leader in aviation, creating innovative and game-changing planes.
Class A shares of Bombardier are down 0.87 per cent, trading at C$1.14 at 11:06 am ET.