Domtar Inc closes common share public offering
Domtar Inc announced today the closing of its public offering of 40,209,790 common shares at a price to the public of £ 11.44 per share.
The gross proceeds of the offering are $ 460m. Domtar will use
the net proceeds of the offering to repay part of the indebtedness it incurred
for the purchase of four pulp and paper mills in the US from
Georgia-Pacific Corporation.
Domtar is the second largest producer of uncoated freesheet paper in
North America and the third largest in the world. It is also a leading
manufacturer of business papers, printing and publishing papers, and specialty
and technical papers.
Domtar manages close to 36 million acres of forest land
in Canada and the United States, and produces lumber and other wood products.
The company also has a 50% investment interest in Norampac Inc, the largest
Canadian producer of containerboard.
Domtar has 12,500 employees across North America.
