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Bombardier to sell shares worth $638 million

Bombardier will sell equity to strengthen its balance sheet as part of a five-year turnaround plan, the Canadian plane-and-train maker said on Monday.

March 6, 2018 By Reuters

The company will sell 168 million Class B shares at C$3.80 per share to raise C$638.4 million ($492.3 million) in gross proceeds. The price represents a discount of 4 percent to the stock’s Monday closing price on the Toronto Stock Exchange. | READ MORE