|
|
Article: G-III sets secondary stock offering. (G-III Apparel Group Ltd.)
- Article from:
- WWD
- Article date:
- December 6, 1989
- Author:
CopyrightCOPYRIGHT 1989 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)
|
G-III SETS SECONDARY STOCK OFFERING
NEW YORK (FNS) - G-III Apparel Group, Ltd., a leather apparel maker, is slated to begin a secondary stock offering of 2 million shares late next week. The stock is expected to be priced at $13 to $16 a share.
Of the shares being offered, 1.5 million are being offered by the company and 500,000 are being offered by Aron Goldfarb, chairman of G-III. Proceeds of the sale of the 1.5 million shares will finance further growth of the company, according to the preliminary prospectus.
Based on the median price, Goldfarb would receive $7.25 million. After the offer is completed, Goldfarb and his father, Morris Goldfarb, ...