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INITIAL PUBLIC OFFERING OF 1,875,000 SHARES OF COMMON STOCK OF TOPS APPLIANCE CITY

 INITIAL PUBLIC OFFERING OF 1,875,000 SHARES
 OF COMMON STOCK OF TOPS APPLIANCE CITY
 NEW YORK, Aug. 11 /PRNewswire/ -- Donaldson, Lufkin & Jenrette Securities Corporation, as manager of the underwriting group, announced today the initial public offering of 1,875,000 shares of common stock of Tops Appliance City, Inc. at $14 per share. The common stock has been approved for listing on NASDAQ under the symbol TOPS.
 All of the 1,875,000 shares of common stock are being sold by the company.
 Tops' gross proceeds from the sale of stock are $26.3 million. Company officials said the proceeds from the offering will be used to repay all senior debt and to finance the opening of its Westchester, N.Y. store scheduled for the fourth quarter of 1992.
 Tops is a leading retailer of home appliances and consumer electronics in New Jersey, serving a customer base within the greater New York metropolitan area. The company is headquartered in Edison, N.J.
 Copies of the prospectus are available from Donaldson, Lufkin & Jenrette Securities Corporation, 140 Broadway, New York, N.Y. 10005.
 -0- 8/11/92
 /CONTACT: Richard F. Gavino of Tops Appliance City, 908-248-2918/
 (TOPS) CO: Tops Appliance City ST: New Jersey IN: HOU SU: OFR


TS -- NY060 -- 8982 08/11/92 12:42 EDT
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Publication:PR Newswire
Date:Aug 11, 1992
Words:216
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