Electronics Boutique makes stock offering
Article Abstract:
Electronics Boutique Holdings Corp. of West Chester, PA, operator of over 500 electronic game stores, sold five million shares worth $70 million on its second day of going public. The stock of Electronic Boutique was valued at $14 a share and closed off 50 cents at $13.50 during the closing of the day's trading. Of the current offering, 4.375 million shares were from Electronic Boutique and the 625,000 were from the Kim family, who owns the firm. Money from the stock sale will be used to fund Electronic Boutique's expansion as well as to pay the Kims earnings of Electronic Boutique that were taxed but not distributed.
Comment:
Has sold five million shares worth $70 million in its second day of going public
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
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ContiFinancial stock battered in sub-prime slump
Article Abstract:
ContiFinancial Corp. stock declined 24% to $19.25 on extremely heavy trading following an announcement that its customers were quickly refinancing their loans at lower rates and that its profits would dramatically fall. ContiFinancial is a sub-prime lender which gives loans to lenders with poor credit histories at rates definitely higher than rates given by traditional banks. Two credit-rating agencies, Standard & Poor's and Moody's, is watching the firm's declining financial condition and could downgrade ContiFinancial's rating.
Comment:
Stock decline fell 24% to $19.25 on extremely heavy trading saying that its profits would fall dramatically
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
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SAP AG to have a presence on NYSE
Article Abstract:
Germany-based SAP AG, the biggest business-software manufacturer worldwide, will have its stocks traded on the New York Stock Exchange starting on Aug. 3, 1998. The development will facilitate US stock investors' bid to purchase shares of SAP, which is touted to be one of the world's most successful technology firms. The listing of SAP's stocks on the New York Stock Exchange is a component of the company's efforts to improve its corporate profile for US investors.
Comment:
Will have its stocks traded on the New York Stock Exchange starting on 8/3/98
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
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