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INITIAL PUBLIC OFFERING OF TNT FREIGHTWAYS AT $19.50 PER SHARE DECLARED EFFECTIVE

 INITIAL PUBLIC OFFERING OF TNT FREIGHTWAYS
 AT $19.50 PER SHARE DECLARED EFFECTIVE
 ROSEMONT, Ill., Feb. 13 /PRNewswire/ -- TNT Freightways Corporation announced today that its registration statement with respect to its initial public offering of 12,500,000 shares of common stock at $19.50 per share was declared effective by the Securities and Exchange Commission.
 The shares covered by the registration statement are to be offered by the company's current stockholders, all of whom are direct or indirect wholly owned subsidiaries of TNT Limited, a publicly held company based in Australia. The company and the selling stockholders have granted the underwriters options to purchase up to an additional 1,875,000 shares to cover over-allotments. Unless the over-allotment options are exercised, the company will not receive any proceeds from the sale of the shares by the selling stockholders.
 TNT Freightways operates a group of regional less-than-truckload general commodities motor carriers in the United States. The company's regional trucking subsidiaries focus on overnight and second-day delivery and provide service throughout the continental United States (with the exception of the Southeast) and to certain points in Canada. The company also operates an automobile port processing and refurbishing business.
 The company's shares will be listed on NASDAQ under the symbol TNTF and will begin trading today.
 Goldman, Sachs & Co. is the sole manager for the 10,000,000 share U.S. offering and Goldman Sachs International Limited is sole manager for the 2,500,000 share international tranche.
 Copies of the prospectus may be obtained from Goldman, Sachs & Co., 85 Broad Street, New York, N.Y. 10004.
 -0- 2/13/92
 /CONTACT: Chris Ellis of TNT Freightways, 708-696-0200/ CO: TNT Freightways Corporation ST: Illinois IN: TRN SU: OFR


TS -- NY014 -- 9562 02/13/92 08:57 EST
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Publication:PR Newswire
Date:Feb 13, 1992
Words:295
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