AUTOS
From Times Staff and Wire Reports
Chrysler Plans Stock Offering: Chrysler Corp. said it plans to sell 40 million new shares of common stock, a move designed to speed the auto maker’s financial recovery. The offering could bring Chrysler about $1.45 billion, before brokerage fees, if priced at $36.25 a share, the Monday closing price of Chrysler’s common issue on the New York Stock Exchange. Two debt-rating agencies immediately hailed the move, raising their opinion of Chrysler debt.
