Outlet Mall Owner Jumps To Big Board

The company that owns the Factory Outlet mall in Post Falls is now trading on the New York Stock Exchange and has a new stock offering.

Prime Retail Inc., of Baltimore, began trading on the NYSE on Wednesday. It had traded on the NASDAQ since spring 1994.

The company also said it began selling $140 million of common stock this week.

Both moves are part of the company’s growth strategy, officials said.

The move to the NYSE is designed to increase investor support, and the stock offering will be used to pay debts and buy interest in its joint-venture partner, Buckeye Shops Limited Partnership, company officials said.

Along with the Post Falls’ mall, Prime Retail owns 23 other outlet centers across the U.S. , DataTimes