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Onex Intends to Convert its Celestica MVS to SVS
March 20, 2023 | Celestica Inc.Estimated reading time: Less than a minute
Celestica Inc., a leader in design, manufacturing and supply chain solutions for the world's most innovative companies, is announcing Onex’ stated intention to convert its multiple voting shares (MVS) in Celestica then held to subordinate voting shares (SVS), on a one-for-one basis, in approximately six months.
“Celestica and Onex have shared a productive relationship for over 25 years. The planned conversion of Onex’ MVS and the simplification of Celestica’s voting structure is the natural next step in the company’s evolution,” said Bobby Le Blanc, President of Onex.
“In 2022, Celestica posted its highest annual non-IFRS operating margin and highest non-IFRS adjusted EPS in the company’s history. Celestica is a much different company than it was just five years ago and we view this as the next logical phase in the company’s transformation,” said Rob Mionis, President and CEO, Celestica.
Celestica also announced it intends to file a Canadian base shelf prospectus.
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