Cellular Stock Offering Withdrawn: Leo’s Industries of...
From Times Staff and Wire Reports
Cellular Stock Offering Withdrawn: Leo’s Industries of Long Beach expressed surprise that Paine Webber Inc. could not complete and was withdrawing the initial public offering of Leo’s 20th Century Cellular unit. Paine Webber, sole manager of the aborted offering, cited the unit’s lack of operating history, which Leo’s claimed was “obviously known to them from inception.” Leo’s may explore a private financing transaction.
