Xantrex Technology Completes IPO

Xantrex Technology Inc. completed, on March 19, 2004, its initial public offering of 3.725 million common shares at $18 per share for gross proceeds of $67.03 million. Based on the issue price, Xantrex has a market capitalization of approximately $500 million. Xantrex develops, manufactures and markets advanced power electronic products and systems.

RBC Capital Markets was the lead manager and bookrunner, with CIBC World Markets Inc. and UBS Securities Canada Inc. as co-lead managers. The underwriting syndicate included GMP Securities Ltd., National Bank Financial and Raymond James Ltd.

Xantrex was represented by Stikeman Elliott, with a team that included Jonathan Drance, John Anderson, Amyn Abdula, Inge Poulus and Argiro Kotsalis. The underwriting syndicate was represented by Borden Ladner Gervais, with a team that included Bill Sirett, Fred Pletcher, Kathleen Keilty and Graeme Martindale.


Fred R. Pletcher Kathleen P. Keilty John F. Anderson Argiro M. Kotsalis Amyn Abdula Jonathan S. Drance Graeme D. Martindale C. Inge Poulus