US: Constar increases size of IPO
The plastic bottle producer Constar International has increased the size of its proposed initial public stock offering to 16 million shares and cut the price to a range of US$12 to US$15 per share. Originally Constar had been planning to sell 8.8m shares at between US$14 and US$16. The Philadelphia-based company is a unit of packaging giant Crown Cork & Seal Co and Constar said Crown would be selling its entire stake and receiving all the proceeds, which could amount to as much as US$240m.
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