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Toronto Stocks Tumble; AutoCanada Shares Fall on Expanded Notes Offering

01/21/2022 | 12:16pm

By Adriano Marchese

Stocks in Toronto are firmly down mid-trading Friday, in step with most global markets and continuing the week's downward trend. In the session, all sectors are pointing lower, with only the health tech sector going against the trend. Shares in AutoCanada Inc. fell after it said that it was increasing its public notes offering by C$50 million to C$350 million.

At midday, Canada's S&P/TSX Composite Index was down 1.19% at 20807.04 and the blue-chip S&P/TSX 60 tumbled 1.12% to 1265.85.

AutoCanada shares fell 1.6% at C$38.11 after it said late Thursday it was upsizing its offering of senior unsecured notes on a private placement basis to C$350 million. On Thursday, the company had announced an offering of C$300 million to redeem current outstanding senior notes due in 2025.

Other market movers:

Givex information Technology Group Ltd. shares rose 1.3% to C$0.79 after saying it is buying a business operating under the name Kalex Equipment Services for up to C$2.5 million.

Write to Adriano Marchese at

(END) Dow Jones Newswires

01-21-22 1215ET

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