RONA completes offerings raising $190 million
On May 21, 2003, RONA completed a new issue and secondary offering of 11,183,572 common shares for total gross proceeds of approximately $190 million. As part of the offering, one of RONA's major shareholders, ITM Entreprises SA, sold 3,413,572 common shares. The net proceeds from the treasury offering will be used to finance the acquisition of Réno-Dépôt Inc.
The underwriters were represented by Fasken Martineau, with a team that included Robert Paré, Gilles Leclerc, Jean-Pierre Chamberland and François-Bernard Poulin.