Celestica Inc shares drop 15% following a $3 billion public share offering priced at a discount.
Celestica Inc shares fell approximately 15% on Thursday after the electronics manufacturing company announced a $3 billion public share offering. The offering, priced at $310 per share, was set at a discount to the previous closing price of $362.76. Management stated that the capital raise is intended to strengthen the company's balance sheet and provide additional working capital for future investment and capital expenditure projects. While the discounted pricing weighed on investor sentiment, the transaction is expected to generate gross proceeds of approximately $3 billion before underwriting discounts. The offering is scheduled to close on or around August 7, 2026. The move follows a period of strong share price performance, where investors chose to lock in gains despite the dilution of new shares. Celestica Inc remains well-positioned in the connectivity and cloud solutions market, providing critical infrastructure for data centers and advanced technologies.