HOLLINGER CANADIAN NEWSPAPERS FILES FOR IPO
By Adnews Staff
Hollinger Canadian Newspapers, Limited Partnership, based in Toronto, announced late last week that it has filed a preliminary prospectus in each Canadian province as a prelude to an initial public offering of limited partnership units. Priced at $11.00 to 11.50 per unit, the partnership hopes to raise about $150 million, cash which will go to pay down debt. The offering is being underwritten by a syndicate led by CIBC World Markets Inc. and Salman Partners Inc. Hollinger Canadian Newspapers publishes 48 daily community newspapers, 180 non-daily newspapers and shopping guides, as well as 106 magazines and specialty publications. It is a unit of Hollinger International Inc., which, through its subsidiaries, publishes 87 paid daily newspapers in the United States, the United Kingdom, Canada and Israel. It also owns or partially-owns 273 non-daily newspapers, magazines and other publications.