Ups Stock Offering Gets More Expensive

Sat., Nov. 6, 1999

From Staff

United Parcel Service raised its estimate Friday on the price range it expects for its initial public offering later this month, making what is expected to be the biggest initial stock sale ever even bigger.

UPS spokesman Norman Black said that the estimated opening price for Class B stock will be between $47-$49 a share. The initial deal is expected to be worth 109.4 million shares, making the IPO worth as much as $5.36 billion.

That would easily surpass the previous largest IPO in history. In October 1998, oil company Conoco Inc. launched an IPO worth $3.96 billion.

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Ups Stock Offering Gets More Expensive

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