MDC SELLS SHARE ISSUE
By Adnews Staff
Toronto-based MDC Corporation has made a deal to sell $28.9 million worth of shares to five investment dealers. The sale is expected to close by May 21. MDC says that after it clears the proceeds from this stock issue its capital base will be more than $100 million. MDC, which has a 40% holding in Toronto agency Ambrose, Carr, Linton, Carroll, owns a slew of companies involved in marketing communications, public relations and commercial printing. It has a strategy of growth by acquisition.
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