BRAMPTON, ONTARIO — AT Plastics Inc. plans to raise about C$35 million (US$24.2 million) through a common share offering in Canada. The Brampton producer of ethylene copolymers and plastic films said Jan. 31 that it will use the proceeds to reduce debt and for general purposes. An underwriting syndicate led by CIBC World Markets Inc., Yorkton Securities Inc., National Bank Financial Inc. and Scotia Capital Inc. will carry out the offering.
AT's share price has been depressed in recent trading, compared with its 52-week high of C$11 (US$7.59). Following the share offering announcement, the firm's share price slipped from C$2.90 (US$2) to C$2.45 (US$1.69) on the Toronto Stock Exchange.