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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kimcor | LSE:KIM | London | Ordinary Share | GB00B0TNHV95 | ORD 0.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.325 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
DOW JONES NEWSWIRES
Real-estate investment trust Boston Properties Inc. (BXP) launched a stock offering of 10.5 million common shares, saying it could use the funds for investing opportunities or to reduce debt.
Companies across a host of industries are looking to take advantage of increased investor interest in stock offerings amid the three-month stock rally. REITs, which borrowed heavily to acquire and develop buildings, have tapped the market recently, with Weingarten Realty Investors (WRI) and Kimco Realty Corp. (KIM) both launching stock offerings earlier this year. REITs are expected to seek billions of dollars in fresh equity over the next few years.
Boston Properties' shares were down 3.5% in after-hours trading, after closing up 5.4%. The company's stock has lost about half of its value since September.
Boston Properties' offering, which grants underwriters an overallotment option to purchase an additional 1.58 million shares, would boost its outstanding share count by at least 8.7%. The company had 121.3 million shares outstanding.
REITs have been hurt by the global recession as tenants can't pay their rent or shutter stores. Properties also face rising foreclosures and the inability to refinance existing debt or obtain new debt.
Boston Properties, which manages and develops office, hotel and industrial properties in Northeast and Mid-Atlantic states, said it plans to use the funds for general business purposes. It had 147 properties with about 49.8 million square feet as of March 31, with an overall percentage of leased space at about 94%.
-By John Kell, Dow Jones Newswires; 201-938-5285; john.kell@dowjones.com
1 Year Kimcor Diamonds Chart |
1 Month Kimcor Diamonds Chart |
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