OTHER NEWS - Oct. 30, 1991
From Times Staff and Wire Reports
British Aerospace’s Stock Sale a Dud: Falling stock prices and a shortage of cash among investors turned a $734-million stock sale by troubled British Aerospace into one of the worst flops in British corporate history, analysts said. Less than 5% of the 117 million new shares offered to existing shareholders were bought, the company said in a statement. The rest of the stock was left with underwriters, who faced large paper losses.
