Celestica drops as Onex cashes out

Celestica

02/08/2023 14:07

** U.S.-listed shares of Canadian electronics co Celestica
Inc  CLS.N  down 5.1% at $20.30 on secondary offering
    ** Co late Tues announced Onex Corp  ONEX.TO  to sell ~6.8
mln shares with BofA as lead underwriter
    ** Sources say offering priced at $20.75, 2.9% discount to
stock's last sale on Tues
    ** Canadian private equity firm Onex divests remaining ~5.8%
stake with the sale, per SEC filing
    ** U.S.-listed CLS shares had gained ~28% since co's
beat-and-raise report on Jul 26, and are up 86% YTD through Tues
close
    ** Shares on Tues hit loftiest levels since 2002

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))