PNC CLOSES ON STOCK ISSUE
PNC CLOSES ON STOCK ISSUE PITTSBURGH, Nov. 15 /PRNewswire/ -- PNC Financial Corp (NYSE: PNC)
today closed its sale of 10.35 million shares of common stock, a spokesman said.
The offering was oversubscribed. The total shares issued included the original 9 million share offering and 1.35 million shares, representing the overallotment option exercised by the underwriters. The issue was priced Nov. 7 at $42-5/8. Net proceeds to PNC were approximately $429 million. The total number of common shares outstanding after the new issue is approximately 107.06 million. PNC Financial Corp, headquartered in Pittsburgh, is the nation's 16th-largest bank holding company, with assets of $42.3 billion. It operates approximately 500 community banking offices in Pennsylvania, Kentucky, Ohio, Indiana, Delaware and New Jersey and conducts business through additional offices in 15 states. PNC's principal banking affiliates include: Pittsburgh National Bank, Pittsburgh; Provident National Bank, Philadelphia; Citizens Fidelity Bank, Louisville, Ky.; Central Trust, Cincinnati; Bank of Delaware, Wilmington, Del.; Northeastern Bank, Scranton, Pa.; Marine Bank, Erie, Pa.; PNC National Bank, Wilmington, Del.; PNC National Bank of New Jersey, Cherry Hill, N.J.; Hershey Bank, Hershey, Pa.; and The First Bank and Trust Company, Mechanicsburg, Pa. -0- 11/15/91 /CONTACT: Jonathan Williams, media, 412-762-4550, or home at 412-359-0979, or Sheila S. Fischl, investors, 412-762-8257, both of PNC Financial Corporation/ (PNC) CO: PNC Financial Corporation ST: Pennsylvania IN: FIN SU: CD -- PG006 -- 1499 11/15/91 11:30 EST
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|Date:||Nov 15, 1991|
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