BRP IPO Raises $262 million

BRP (Bombardier Recreational Products) raised $262.3 million in its initial public offering of 12,200,000 subordinate voting shares at a price of $21.50 per share. The proceeds of the offering will be used to pay down debt. The stock is traded on the Toronto Stock Exchange under the symbol “DOO”. A further $39 million can be raised by BRP if the underwriters of the IPO exercise their options to buy an additional allotment of 1.83 million shares at $21.50 per share. BRP manufactures and markets utility vehicles under the Can-Am brand. Learn more:

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