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LIDA FILES A REGISTRATION STATEMENT WITH THE SEC

 LIDA FILES A REGISTRATION STATEMENT WITH THE SEC
 CHARLOTTE, N.C., March 31 /PRNewswire/ -- Lida Inc. announced today


that the company has filed a registration statement and an amendment thereto with the Securities and Exchange Commission relating to a proposed initial public offering of 2,500,000 shares of Lida's class A common stock (plus a 15 percent over-allotment option), which will be sold domestically through U.S. underwriters led by Lehman Brothers and Kidder, Peabody & Co. and internationally through international managers led by Lehman Brothers International and Kidder, Peabody International Limited. The U.S. offering will consist of 2,000,000 shares and the international offering will consist of 500,000 shares.
 Isaac Kier, Nelson Kier and Ralph Kier who currently own 100 percent of the company's common stock, will sell an aggregate of 1,172,000 shares and Lida Inc. will sell an aggregate of 1,328,000 shares of the company's class A common stock in the proposed offering.
 Lida Inc. is a designer, manufacturer and marketer of "Topweight" fabrics, primarily for use in the production of women's sportswear, swimwear and activewear. The company is headquartered in Charlotte, N.C.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. 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.
 Copies of a preliminary prospectus covering the offering of the class A common stock may be obtained from Shearson Lehman Brothers Inc., 34 Hubert Street, 3rd Floor, New York, N.Y. 10013, Attention: Prospectus Department.
 -0- 3/31/92
 /CONTACT: Nelson Kier, executive vice president and chief financial officer of Lida Inc., 704-376-5609/ CO: Lida Inc. ST: North Carolina IN: TEX SU:


PS -- NY099 -- 3665 03/31/92 18:47 EST
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Publication:PR Newswire
Date:Mar 31, 1992
Words:361
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