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Update: Celestica Shares Fall After $3 Billion Equity Offering Priced

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Celestica (CLS) shares fall 13% in Thursday trading, a day after the company priced an offering of 9.68 million common shares at $310 each, generating an expected $3 billion in gross proceeds.

Underwriters have a 30-day overallotment option to purchase up to 1.45 million additional shares.

Celestica expects the offering to close around Friday and plans to use the net proceeds for working capital, capital-expenditure investments, and other general corporate purposes.

Price: $315.92, Change: $-46.85, Percent Change: -12.91%

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