Printer Friendly

SHAWMUT NATIONAL FILES PUBLIC OFFERING OF 9 MILLION NEW COMMON SHARES

SHAWMUT NATIONAL FILES PUBLIC OFFERING OF 9 MILLION NEW COMMON SHARES
 HARTFORD, Conn., Feb. 13 /PRNewswire/ -- Shawmut National Corporation (NYSE: SNC) announced today that it has filed a Registration Statement with the Securities and Exchange Commission for a public offering of 9 million new common shares. Shawmut currently has 73.7 million common shares outstanding. Morgan Stanley & Co. Incorporated is the manager of the underwriting group.
 Net proceeds from the sale of common stock will be used principally to make capital contributions to the company's bank subsidiaries. These contributions would allow for expansion within the company's existing business lines.
 Shawmut National Corporation is a multibank holding company with dual headquarters in Hartford, Conn., and Boston, Mass. The company focuses on offering a range of financial products and services to consumers and small- to medium-size companies. The company also offers financial services to correspondent banks, governmental entities, and corporate customers based in New England and select national markets. Shawmut National operates a total of 339 branches in southern New England.
 ---
 A Registration Statement relating to the common stock 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 the registration or qualification under the securities laws of any such state.
 -0- 2/13/92
 /CONTACT: Susan A. Rottner, 203-722-9300, or Brent S. Di Giorgio, 203-240-7632, of Shawmut National/
 (SNC) CO: Shawmut National Corporation ST: Connecticut, Massachusetts IN: FIN SU: OFR


SH -- NE011 -- 9947 02/13/92 16:49 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 13, 1992
Words:307
Previous Article:O'BRIEN ENVIRONMENTAL ENERGY REPORTS SECOND QUARTER & SIX MONTHS RESULTS
Next Article:CLEVETRUST REALTY INVESTORS REPORT THAT FUNDS FROM OPERATIONS INCREASE 73 PERCENT FOR FIRST QUARTER OF FISCAL 1992
Topics:


Related Articles
SHAWMUT NATIONAL ONE OF FIRST COMPANIES IN NATION TO OFFER INVESTMENT FUND OF MID-CAP STOCKS DESIGNED TO COMPETE AGAINST NEW S&P INDEX
SHAWMUT NATIONAL 'BB+' SENIOR DEBT AFFIRMED BY FITCH, TREND IMPROVING -- FITCH FINANCIAL WIRE --
SHAWMUT NATIONAL CORPORATION FILES SHELF REGISTRATION TO ISSUE DEBT SECURITIES AND PREFERRED SHARES
SHAWMUT NATIONAL CORPORATION COMPLETES OFFERING OF DEPOSITARY SHARES
DUFF & PHELPS: DUFF & PHELPS UPGRADES SHAWMUT NATIONAL CORPORATION
SHAWMUT NATIONAL REINSTATES COMMON STOCK DIVIDEND CORPORATION TO PAY 10 CENTS PER COMMON SHARE
SHAWMUT NATIONAL CORPORATION INCREASES COMMON DIVIDEND
SHAWMUT NATIONAL CORPORATION COMPLETES OFFERING OF FIVE MILLION DEPOSITARY SHARES
SHAWMUT NATIONAL AUTHORIZES STOCK REPURCHASE AND DECLARES QUARTERLY DIVIDEND
SHAWMUT NATIONAL DECLARES QUARTERLY DIVIDEND

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters