Brookfield Files Secondary Offering Prospectus For Sale Of 4.6 Million Common Shares.Business Editors NEW YORK--(BUSINESS WIRE)--March 1, 2001 Brookfield Properties Corporation (NYSE NYSE See: New York Stock Exchange :BPO BPO Business Process Outsourcing BPO Benevolent & Protective Order (of Elks of the USA) BPO Benzoyl Peroxide BPO Business Process Optimization BPO Broker Price Opinions BPO Buffalo Philharmonic Orchestra ) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BPO.) announced today that it has filed a preliminary prospectus Preliminary Prospectus A first draft registration statement filed by a firm prior to proceeding with an initial public offering of securities. The document, filed with the Securities & Exchange Commission, is intended to provide pertinent information to prospective shareholders in the United States and Canada in order to qualify 4,610,773 common shares to be distributed in a secondary offering by Trilon Financial Corporation. Brookfield Properties is not issuing any securities pursuant to this filing. The secondary offering of shares by Trilon was sold to a syndicate of investment dealers. Trilon Financial is the financial services affiliate of Brascan Corporation, Brookfield's largest shareholder. Trilon received these shares in 1997 in connection with its sale of common shares of Gentra Inc. and has held the shares as a non-core asset since that time. Brascan continues to hold 48% of Brookfield's common equity and has no intention of selling shares in Brookfield. A registration statement relating to the common shares has been filed with the Securities and Exchange Commission but has not yet become effective. These common shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these common shares in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Brookfield Properties Corporation, with over US $8 billion in assets, owns, develops and manages premier North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. office properties, operates real estate service businesses and develops master planned communities. The Brookfield portfolio includes 60 properties totaling 46 million square feet, including landmark properties such as The World Financial Center in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and BCE BCE abbr. 1. Bachelor of Chemical Engineering 2. Bachelor of Civil Engineering BCE Abbreviation for before the Common Era. Place in Toronto. Brookfield is inter-listed on the New York and Toronto Stock Exchanges under the symbol BPO. For more information, visit the Brookfield Properties website at www.brookfieldproperties.com. |
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