Talbots Plans First Stock Offering: The women’s apparel retail chain and mail-order merchandiser said it will sell 11 million shares of common stock, pending regulatory approval. In filing with the Securities and Exchange Commission, the Hingham, Mass.-based company said it hopes to get between $15 and $17 a share. JUSCO USA, the subsidiary of the Japanese JUSCO Co. that acquired Talbots in 1988, will retain more than 66% of Talbots’ outstanding common stock and five of the nine Talbots board positions. Talbots said it will use the money to buy the Talbots trademarks from another JUSCO subsidiary for $103 million, and to repay debt.
From Times Staff and Wire Reports