BRP Files Preliminary Document for IPO

BRP, Valcourt, Québec, has filed a preliminary document with the securities regulatory authorities in  Canada  in connection with a proposed initial public offering of its subordinate voting shares.

According to BRP's preliminary prospectus document, in fiscal 2013 the company achieved $2,896 million in revenues and $121 million in net income.

The offering is being made through a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets, UBS Securities Canada Inc. and Citigroup Global Markets Canada Inc.

BRP employs approximately 6,800 people globally, primarily in Canada, Mexico, Austria, the United States and Finland. Since 2003, the Company has expanded its direct dealer network in order to reinforce its presence in key markets outside of North America. Currently, BRP products are sold in 105 countries. The Company sells its products  through a network of approximately 3,200 dealers in 20 countries as well as through approximately 190 distributors serving approximately 950 additional dealers.