The Québec government plans to sell its 16% shareholding in Canada’s second largest forestry company, Domtar Inc, in a public offering that will raise about C$619m.
The province’s investment arm will offer 18.2 million units at C$16.50 each and each unit will contain one Domtar share and a warrant to purchase another at C$17.55 within a year.
A Domtar spokesperson said the offer would ensure an “orderly exit” from Domtar and minimise the impact on the share price.
