Crown Capital Partners raises $65 mln from IPO, begins trading on TSX

Canadian specialty finance firm Crown Capital Partners has completed its initial public offering, raising gross proceeds of more than $65 million. It may raise additional proceeds from an over-allotment option granted to underwriters. The firm's shares began trading this week on the Toronto Stock Exchange under the symbol "CRN". Crown Capital said it expects to use most of the net IPO proceeds to obtain an interest in its latest fund, Crown Capital Fund IV, and to finance long-term debt transactions. As reported by peHUB Canada in June, the firm is seeking up to $300 million for Fund IV as part of a broadened debt and quasi-equity investment program targeted to mid-market companies.

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