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FINWIRES

Groupe Dynamite Closes $251 Million Subordinate Shares Offering

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-- Groupe Dynamite (GRGD.TO) has closed the offering of 2.7 million subordinate shares, which were sold at $93.00 each, raising $251 million for the selling shareholder, chief executive Andrew Lutfy, the company said on Monday.

Groupe Dynamite also completed its buyback of 1.6 million subordinate voting shares from Lutfy at the same offering price, for a total of $51 million.

Groupe Dynamite shares were last seen down $0.92 to $86.64 on the Toronto Stock Exchange.

Price: $86.58, Change: $-0.98, Percent Change: -1.12%

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