CANADA

摘要

A long-tailed future requires money and few companies come with a longer tail than fuel cell maker BALLARD POWER SYSTEMS, which showed little hesitation in significantly upsizing last week's Canadian-style bought deal to US$550m from US$350m at launch. TD Securities and National Bank Financial led the sale overnight on Tuesday of 14.87m new shares at US$37.00, a 9.5% discount to last sale, in a multi-jurisdictional offering. The stock trades on both the TSX and Nasdaq. The banks took a 4% underwriting spread. A15% greenshoe option could increase gross proceeds to US$632.7m.