ContiFinancial shares priced at $21, raises $130.2 million in initial public offering.NEW YORK--(BUSINESS WIRE)--Feb. 8, 1996--ContiFinancial Corp. (NYSE NYSE See: New York Stock Exchange : CFN CFN Center for Functional Nanomaterials CFN Companhia Ferroviaria do Nordeste (Brazil) CFN Commercial Fueling Network CFN Conselho Federal de Nutricionistas (Brazil) ) today announced that common shares in its initial public offering were priced at $21 a share. The shares will begin trading Friday, February 9, on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . A total of $130.2 million was raised by the sale of 6.2 million shares of common stock, of which 4.96 million were sold in the U.S. and 1.24 million shares were sold outside the U.S. All shares in the IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. were sold by ContiFinancial Corp., 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 . After the completion of the sale, Continental Grain Company, New York, will continue to own approximately 83% of ContiFinancial's outstanding common stock. The U.S. offering was managed by an underwriting group led by Merrill Lynch & Co., Bear, Stearns & Co. Inc., Dillon, Read & Co. Inc. and Lehman Brothers. The international offering was managed by an underwriting group led by Merrill Lynch International Limited, Bear, Stearns International Limited, Dillon, Read & Co., Inc. and Lehman Brothers. ContiFinancial, a consumer and commercial finance company, originates and services home equity loans. In addition, it provides financing, securitization and bond placement services to originators of a broad range of loans, leases and receivables, including adjustable rate mortgages, sub-prime auto loans, home improvement loans, equipment leases, and multi-family and other commercial mortgage loans. Copies of the prospectus can be obtained by writing to Jerome M. Perelson, senior vice president and chief financial officer, ContiFinancial Corp., 277 Park Ave., New York, N.Y. 10172. CONTACT: Continental Grain Company Daryl C. Natz, 212/207-5578 or Edelman Financial Joseph Kist kist n. Variant of cist2. kist Noun Scot & S African a large wooden chest Kist a chest of money, hence, a store or cache of money, 1619. , 212/704-8239 |
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