MONTREAL – Coscient Group, Quebec’s largest TV production company, has filed a prospectus with the Quebec Securities Commission to issue 3.7 million class B shares for net proceeds to Montreal-based Coscient of C$16.9 million ($12.5 million).
Of that, $6 million from the public offering will be used to pay the cash portion of the payment for the recent acquisition of Astral Distribution and Astral Programming Enterprises from Astral Communications of Montreal.
“The rest is for strategic acquisitions and internal growth,” said Marie-Christine Dufour, vice president of public affairs at Coscient Group. “We’re looking for complementary acquisitions.”
The share issue is expected to close Dec. 17. Coscient’s shares trade on the Montreal and Vancouver stock exchanges.