BRP to Conduct IPO in Toronto
The Canadian builder of Ski-Doo snowmobiles, watercraft and ATVs, BRP Inc, is aiming to raise Can$262 million or US$259 million through sale of its shares during an initial public offer.
The company based out of Valcourt, Quebec is planning to sell 12.2 million shares at a price range between Can$18.50 and Can$21.50 per share during the IPO, according to documents filed with regulators. The company would be listed in the Toronto Stock Exchange under the symbol DOO after its sale scheduled on May 27.
BRP manufactures, Ski-Doo snowmobiles, all terrain vehicles, motorcycles and Sea-Doo personal watercraft. One of its most popular is its three-wheeled Can-Am Spyder roadster as well as many other parts and engines for their craft.
The bookrunners for the sale are the Bank of Montreal, UBS AG, the Royal Bank of Canada and Citigroup Inc. These banks have an option to purchase an additional 15% of the IPO after the closure of the sale process,