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BRP to Raise CN$262.3 Million with Initial Public Offering

Bombardier Recreational Products announced an initial public offering price of CN$21.50 per share when the company goes public. At that price ($20.83 in U.S. dollars) for 12,200,000 shares, the IPO would generate proceeds of CN$262.4 million (US$254.8 million) for BRP, the company behind Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Evinrude & Johnson outboard engines, and Can-Am‘s ATVs, side-by-sides and Spyder three-wheeled roadsters.

Q3 2013 US Motorcycle Sales Results

Motorcycle and scooter sales in the U.S. in 2013 remain consistent with last year’s figures, according to data released by the Motorcycle Industry Council. Several manufacturers blamed poor weather for the poor start this year, and the rebounding sales in the third quarter helped to negate the slow sales from earlier in the year.

BRP to go Public with IPO

Bombardier Recreational Products has filed a preliminary prospectus with the necessary securities regulatory bodies in Canada for a proposed initial public offering of subordinate voting shares. Should things go according to plan, non-controlling shares of the company will be available on the Toronto Stock Exchange. The Financial Post reports BRP hopes to raise CN$250 million (US$243 million).