• Most Popular
  • Most Shared

UPDATE 1-Softchoice to raise C$17.4 million in bought deal

Fri Nov 20, 2009 9:15am EST

Stocks

   

* To sell 2.25 million shares for C$7.75 each

Stocks  |  Mergers & Acquisitions  |  Technology

* Pricing at a discount of 5 pct to Thursday's close

Nov 20 (Reuters) - Canadian technology services provider Softchoice Corp (SO.TO) said it would raise about C$17.4 million ($16.34 million) in bought deal.

Softchoice said a syndicate of underwriters co-led by GMP Securities and Cormark Securities agreed to buy 2.25 million shares for C$7.75 each, a discount of 5 percent to the stock's Thursday close of C$8.16.

The company granted the underwriters an over-allotment option to buy an additional 15 percent of shares. The offering is scheduled to close by Dec. 10. ($1=1.065 Canadian Dollar) (Reporting by Amit Kumar in Bangalore; Editing by Ratul Ray Chaudhuri)

Stocks
Mergers & Acquisitions
Technology


More from Reuters

Photo

Honda expands airbag recall as more Toyotas probed

TOKYO/DETROIT (Reuters) - Honda Motor Co said it would recall another 440,000 cars around the world for faulty airbags as rival Toyota Motor Corp faced further probes over its largest-ever safety crisis. | Video

» More Top News
Chairman of the Federal Reserve Ben Bernanke testifies before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill in Washington July 22, 2009. REUTERS/Kevin Lamarque
John Kemp:

The Fed needs a new storyline

It's irrelevant whether the Fed sells its assets back to the market. What matters is whether and when it's prepared to raise rates.  Commentary 

Economy
A worker drives a Toyota Motor Corp's newly assembled Prius hybrid vehicle onto a trailer near the company's plant in Toyota, central Japan February 9, 2010.REUTERS/Yuriko Nakao
Reuters Breakingviews:

Toyota's troubles in overdrive

The cost of Toyota's recall nightmare is nothing compared to the price of fixing its battered reputation.  Commentary 

Autos