JONES APPAREL GROUP OFFERS 3.1 MILLION SHARES
JONES APPAREL GROUP OFFERS 3.1 MILLION SHARES BRISTOL, Pa., Nov. 13 /PRNewswire/ -- Jones Apparel Group, Inc.
(NYSE: JNY) today announced a public offering of 3.1 million shares, all of which were offered by Sidney Kimmel, chairman of the company.
The shares were offered at $25 per share. Following the offering, Kimmel will own approximately 64 percent of the outstanding shares. The company will not receive any proceeds from the offering. The offering was made through a syndicate managed by Merrill Lynch & Co. Jones Apparel Group, Inc., is a leader in the better women's sportswear and suit businesses and sells under its flagship label Jones of New York, as well as its Jones New York Sport, JNY, Jones(asterisk)Wear, Saville, Rena Rowan for Saville, and Ellen Kaye labels and under the licensed names, Christian Dior and jag. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Written prospectuses may be obtained from Merrill Lynch & Co., 4 Corporate Place, Piscataway, N.J., 08854. Attention: Final Prospectus Department, 908-878-6525. /delval/ -0- 11/13/91 /CONTACT: Wesley R. Card, chief financial officer of Jones Apparel, 215-785-4000/ (JNY) CO: Jones Apparel Group, Inc. ST: Pennsylvania IN: TEX SU: OFR JS-MK -- PH011 -- 3849 11/13/91 10:27 EST
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|Date:||Nov 13, 1991|
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