Disk-drive maker Micropolis starts 2-million-share offering.Disk-drive maker Micropolis starts 2-million-share offering Taking advantage of recent stock appreciation, computer disk-drive manufacturer Micropolis Corp. began its offering of 2 million shares of new common stock April 30. Micropolis' stock was up 318 percent to $17.75 a share in the one-year period ended April 12, ranking it the No. 1 company in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County for stock growth, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a Los Angeles Times Los Angeles Times Morning daily newspaper. Established in 1881, it was purchased and incorporated in 1884 by Harrison Gray Otis (1837–1917) under The Times-Mirror Co. (the hyphen was later dropped from the name). study published last week. The stock has declined since then, and the offering price was set at $13.50 a share. The proceeds will be used primarily for general business purposes, according to a stock prospectus. Micropolis makes high-capacity disk drives used in engineering workstations and file servers for local-area networks Local-area networks Computer networks that usually cover a limited range, say, within the boundary of a building. A computer network is two or more computers that communicate with each other through some medium. . Last year was a recovery period for the Chatsworth company. Sales rose 24 percent to $381 million, while net earnings climbed to $8 million compared to a loss of $50 million in 1989. |
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