Power Corporation Closes $200 Million Preferred Share Offering

The latest update is out from Power Corp of Canada ( (TSE:POW) ).

Power Corporation of Canada has successfully closed its offering of 8,000,000 Non-Cumulative First Preferred Shares, Series I, generating gross proceeds of $200 million. The shares, priced at $25.00 each, were bought by a syndicate of underwriters and will be listed on the Toronto Stock Exchange. The proceeds from this offering will be utilized for general corporate purposes, potentially strengthening the company’s financial position and operational capabilities.

The most recent analyst rating on (TSE:POW) stock is a Hold with a C$68.00 price target. To see the full list of analyst forecasts on Power Corp of Canada stock, see the TSE:POW Stock Forecast page.

Spark’s Take on TSE:POW Stock

According to Spark, TipRanks’ AI Analyst, TSE:POW is a Outperform.

Power Corp of Canada shows strong financial performance and strategic investments, leading to robust earnings growth. The technical indicators suggest a strong upward trend, though caution is advised due to potential overbought conditions. The valuation is reasonable, with an attractive dividend yield. Overall, the company is well-positioned in the life insurance industry with a promising outlook.

To see Spark’s full report on TSE:POW stock, click here.

More about Power Corp of Canada

Power Corporation is an international management and holding company that focuses on financial services across North America, Europe, and Asia. Its core holdings include leading insurance, retirement, wealth management, and investment businesses, alongside a portfolio of alternative asset investment platforms.

Average Trading Volume: 2,326,772

Technical Sentiment Signal: Buy

Current Market Cap: C$43.31B

For detailed information about POW stock, go to TipRanks’ Stock Analysis page.