SECURITIES

Dean Witter IPO Set at $27 a Share: Sears, Roebuck & Co. was set to raise nearly $800 million by selling 20% of its Dean Witter subsidiary after underwriters led by the brokerage firm set a price of $27 a share for the initial public offering. Analysts said Sears’ offering in Dean Witter, Discover & Co. was oversubscribed by investors, and some said the share price could rise to nearly $35 once the IPO gets underway. The price for 29.5 million shares on the NYSE was set late Monday after the close of trading and stood at the top end of an expected range of $25 to $27 per share.