International Business
From Times Staff and Wire Reports
Sweden to Raise $1.3 Billion in Stock Sale: The government said it will sell as many as 82.2 million shares in the state-owned pharmaceuticals company Pharmacia, a maximum 47.5 million to domestic investors, to bring in $1.3 billion, the Financial Times reported. The remaining shares will be sold to international investors, raising foreign ownership in the company to more than 15%, from 6%. The government said it will keep 10.1% of the company’s voting shares.
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