You will be redirected back to your article in seconds

Cinar to issue more shares

MONTREAL — Cinar Films of Montreal announced Monday that it is set to make another public share-offering, with the issue of 3 million new subordinate voting shares.

Cinar shares closed Monday afternoon on the Nasdaq index at just over $32, and Cinar president Ronald Weinberg said the company expected to raise in the range of $96 million with the new share issue.

Cinar has filed a registration statement with the U.S. Securities & Exchange Commission, and a prospectus with the Quebec and Ontario Securities Commissions. Weinberg said the share issue would likely close before the end of September, and the company’s top executives will heading off to chat up investors in Canada, the U.S. and Europe beginning next week.

The plans for the new issue of shares comes on the heels of the announcement earlier this month that the Montreal-based kids TV producer and distrib had just inked a deal for a new, five-year credit facility worth $80 million from the Royal Bank of Canada and the Banking Branch and Trust Bank of North Carolina. Company execs predict that Cinar may be making some significant acquisitions in the months to come with the new influx of capital.

“The key issue for us is growth,” said Weinberg. “There’s going to be more acquisitions because we want to grow this base we have.”

Of the shares offered, 2.75 million will come from Cinar, while 250,000 will come from a corporation controlled by Cinar CEO Micheline Charest. The shares will be available through Nasdaq and through the Montreal and Toronto stock exchanges.

Lead manager for the offering is Bear, Stearns & Co., and co-managers are Furman Selz LLC, Montgomery Securities, and Griffiths McBurney & Partners.

More Biz

  • tencent logo

    Tencent to Float Online Bookstore With $5.5 Billion Valuation

    MONTREAL — Cinar Films of Montreal announced Monday that it is set to make another public share-offering, with the issue of 3 million new subordinate voting shares. Cinar shares closed Monday afternoon on the Nasdaq index at just over $32, and Cinar president Ronald Weinberg said the company expected to raise in the range of […]

  • Discop Africa TV Market Kicks off

    Discop Africa TV Market Kicks off with All Eyes on African Biz Boom

    MONTREAL — Cinar Films of Montreal announced Monday that it is set to make another public share-offering, with the issue of 3 million new subordinate voting shares. Cinar shares closed Monday afternoon on the Nasdaq index at just over $32, and Cinar president Ronald Weinberg said the company expected to raise in the range of […]

  • Bill OReilly Roger Ailes Sexual Harrassment

    Bill O'Reilly, Roger Ailes Still Loom Over Fox's Business (Analysis)

    MONTREAL — Cinar Films of Montreal announced Monday that it is set to make another public share-offering, with the issue of 3 million new subordinate voting shares. Cinar shares closed Monday afternoon on the Nasdaq index at just over $32, and Cinar president Ronald Weinberg said the company expected to raise in the range of […]

  • Monica Macer

    MPTF's NextGen Member Monica Macer: 'We Believe in Taking Care of Our Own'

    MONTREAL — Cinar Films of Montreal announced Monday that it is set to make another public share-offering, with the issue of 3 million new subordinate voting shares. Cinar shares closed Monday afternoon on the Nasdaq index at just over $32, and Cinar president Ronald Weinberg said the company expected to raise in the range of […]

  • Éric Salvail Suspends Career After Sexual

    Quebec Radio Star and Producer On Leave Over Sexual Harassment Allegations

    MONTREAL — Cinar Films of Montreal announced Monday that it is set to make another public share-offering, with the issue of 3 million new subordinate voting shares. Cinar shares closed Monday afternoon on the Nasdaq index at just over $32, and Cinar president Ronald Weinberg said the company expected to raise in the range of […]

  • Roy Price

    Harvey Weinstein Fallout: Entertainment Figures Accused of Sexual Harassment

    MONTREAL — Cinar Films of Montreal announced Monday that it is set to make another public share-offering, with the issue of 3 million new subordinate voting shares. Cinar shares closed Monday afternoon on the Nasdaq index at just over $32, and Cinar president Ronald Weinberg said the company expected to raise in the range of […]

  • Harvey Weinstein

    Colony Capital Has Three-Week Window to Avert Weinstein Co. Bankruptcy (EXCLUSIVE)

    MONTREAL — Cinar Films of Montreal announced Monday that it is set to make another public share-offering, with the issue of 3 million new subordinate voting shares. Cinar shares closed Monday afternoon on the Nasdaq index at just over $32, and Cinar president Ronald Weinberg said the company expected to raise in the range of […]

More From Our Brands

Access exclusive content