Celestica Inc has bagged some add-on cash following the completion of its $360.5m initial public offering (CI No 3,402). The Canadian electronics manufacturing concern said that its lead IPO underwriters – Morgan Stanley Dean Witter in the US, and RBC Dominion Securities Inc in Canada – have exercised their options to purchase an additional 3.1 million shares, raising aggregate proceeds of roughly $54.1m to cover over-allotments related to the IPO. The transaction is scheduled to close on July 14. The company said it would use the proceeds for general corporate purposes and to fuel its continued growth. Celestica shares closed unchanged on Friday at $19.1875, against the original offering price of $17.50.
