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CENTERPOINT PROPERTIES INITIAL PUBLIC OFFERING JOINS AMEX

 NEW YORK, Dec. 3 /PRNewswire/ -- The American Stock Exchange today began trading the initial public offering of underwritten common shares and direct placement of 8.22% convertible subordinated debentures due 2004 of CenterPoint Properties Corporation.
 The company's common stock (symbol: CNT), opened at 18-1/4 on 315,500 shares. The initial public offering of common stock consists of 3,750,000 shares with an over-allotment option of 562,500 shares.
 The company's debentures (symbol: CNT.A), opened at 100 on 50 bonds. The initial public offering of debentures consists of 58.5 million bonds.
 J. Streicher & Co. has been selected as the specialist firm for the common. Spear, Leeds & Kellogg is the specialist firm for CenterPoint's debentures.
 Chicago-based CenterPoint Properties is a fully integrated owner and manager of warehouse/industrial real estate properties throughout the metropolitan Chicago area. The company plans to convert to a real estate investment trust effective Jan. 1, 1994.
 John S. Gates, Jr., president & chief executive officer of CenterPoint Properties, said, "We're extremely pleased with the access to capital afforded by this initial public offering and by this week's economic data in general."
 The American Stock Exchange, the nation's second largest stock exchange, is the only primary marketplace for both stocks and derivative securities in the United States.
 -0- 12/3/93
 /CONTACT: Melissa Grand, manager, communications, of the American Stock Exchange, 212-306-1635/
 (CNT)


CO: CenterPoint Properties Corporation ST: IN: SU:

TW -- NY061 -- 0340 12/03/93 15:54 EST
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Publication:PR Newswire
Date:Dec 3, 1993
Words:244
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