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Article: Despite discount, Fred Meyer stock sale still a big success.
- Article from:
- Daily News Record
- Article date:
- November 10, 1986
- Author:
CopyrightCOPYRIGHT 1986 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Despite discount, Fred Meyer stock sale still a big success NEW YORK (FNS) -- Although nine million shares of common stock of Fred Meyer, Inc., were sold to the public at below the price originally expected, it still looks like a pretty good deal for the sellers.
In the preliminary prospectus issued in September, the expected offering price was listed as between $16 and $19, but when the stock came out in late October, it was priced at $14.25 a share, and after commissions the sellers netted $13.40 a share. The company got $60.3 million to pay down debt. Individual shareholders, principally KKR, came out with $30,150,000 for stock that cost them $7,372,500. After ...