February 19, 2020 / 10:41 PM / 5 months ago

Canada's Telus seeks to raise C$1.3 billion in stock offering

(Reuters) - Canadian telecom operator Telus Corp said on Wednesday that it aims to raise about C$1.3 billion ($983.43 million)through a public stock offering, priced at C$52 per share.

The offering will be backed by a group of underwriters led by RBC Capital Markets and TD Securities, while CIBC Capital Markets, BMO Capital Markets and Scotiabank will be joint bookrunners.

Telus had said last week that it would begin rolling out its 5G network and its initial module would be with Huawei Technologies Co Ltd’s equipment, flagging concerns of high costs if the Canadian government banned Huawei.

Reporting by Neha Malara in Bengaluru; Editing by Shailesh Kuber

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