The Green Bay Packers are planning to launch their much-discussed stock sale as soon as next week, with the price expected to be higher than the previous stock sale in 1997-'98.
The new information, contained in a securities filing in the state of Utah, also outlines a number of new wrinkles that will be of interest to Packers fans who want to buy stock in the franchise, the only publicly-owned franchise in professional football.
The story was first reported by Bloomberg News.
In an Oct. 13 letter to the Utah Department of Commerce, lawyers for the team explained a number of differences.
For example, each share will likely be more than the $200 that was charged in 1997.
"It may be $250 a share," the letter states.
Second, entities, as opposed to individuals, may be allowed to buy shares, "but the price per share may be greater than the price per share to be paid by individuals." This would suggest that companies would buy stock, although the stock does not appreciate in value, pays no dividends and can't be sold.More »^ Less
Visit Link
0 Comments