Power Corporation Completes $200 Million Preferred Share Offering

Power Corp of Canada ( (TSE:POW) ) has shared an update.

Power Corporation of Canada announced the successful closing of its offering of 8,000,000 5.75% Non-Cumulative First Preferred Shares, Series H, raising $200 million. The shares, priced at $25.00 each, were bought by a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets, and Scotiabank, and will be listed on the Toronto Stock Exchange under the symbol ‘POW.PR.H’. The proceeds will be used for general corporate purposes, enhancing the company’s financial flexibility and positioning in the market.

The most recent analyst rating on (TSE:POW) stock is a Buy with a C$64.00 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 has a strong overall stock score driven by robust earnings growth and strategic initiatives highlighted in the earnings call. The company’s solid financial performance and attractive valuation further support its position. However, technical indicators suggest caution due to potential overbought conditions.

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 focusing on financial services across North America, Europe, and Asia. Its core holdings include leading insurance, retirement, wealth management, and investment businesses, along with a portfolio of alternative asset investment platforms.

Average Trading Volume: 2,197,596

Technical Sentiment Signal: Buy

Current Market Cap: C$37.34B

For an in-depth examination of POW stock, go to TipRanks’ Overview page.