Dorel Industries Completes Bought Deal Offering

Dorel Industries Inc., headquartered in Westmount, Quebec, completed a bought deal new issue and secondary offering in the amount of $151 million on May 22, 2002. Dorel issued 2,929,200 class B subordinate voting shares from treasury at $38.50 per share, for proceeds to Dorel of $108 million. In addition, four members of Dorel’s senior management sold an aggregate of one million shares, for proceeds of $38.5 million. Dorel is a global consumer products manufacturer specializing in ready-to-assemble furniture, juvenile products and home furnishings. The underwriting syndicate included CIBC World Markets Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and Sprott Securities Inc.

Heenan Blaikie LLP in Montreal acted for Dorel and the four selling shareholders, with a team that included Neil Wiener, Eric Levy and Jason Caron. The underwriters were represented by Ogilvy Renault in Montreal, with a team that included Francis Legault, Solomon Sananes, Michelle Setlakwe and Elliot Shapiro.