CDPQ, Fonds de solidarité FTQ invest in Stingray's NCC buy
Montréal-based media company Stingray Digital Group Inc (TSX: RAY.A-.B) has raised $40 million from its issue of private placement subscription receipts to Caisse de dépôt et placement du Québec. A shareholder of Stingray has also exercised and subscribed for subscription receipts, generating $15 million, which was funded by Fonds de solidarité FTQ and Investissement Québec. The deals, which are part of a $138 million financing, will back the company's previously announced buy of Newfoundland Capital Corp Ltd (NCC), the owner and operator of Newcap Radio, for $506 million.
23 May 2018•4 mins read
