VANCOUVER, British Columbia-Canadian telecommunications provider Telus Corp. reported the closing of a secondary offering of 48.55 million common shares and 24.94 million non-voting shares that were controlled by a wholly owned subsidiary of Verizon Communications Inc.
Telus noted that aggregate proceeds from the offering totaled approximately $1.88 billion, which is believed to be the fourth-largest equity offering in Canadian history. Telus added that it did not sell any newly issued shares as part of the offering and did not receive any proceeds from the sale.
Verizon announced last week it planned to sell its 20.5-percent stake in Telus as part of an ongoing strategy of divesting selected international investments while it focuses on core business growth opportunities, such as broadband and wireless.
