Lehman plans to offer 3 million convertible preferred shares

SAN FRANCISCO (MarketWatch) — Lehman Bros. Holdings Inc. said late Monday that it plans to offer 3 million of convertible preferred shares “in response to investor interest.” Lehman also expects to grant the offering’s underwriter an option to purchase up to 450,000 additional preferred shares. It said the proceeds will be used to bolster capital and increase financial flexibility. “We also felt this was the right time as there was a window of opportunity in the market, as we have received significant interest from several key institutional investors, who have been strong supporters of the firm over time,” said Lehman Chief Financial Officer Erin Callan in a statement.

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Original post by Forextvblog

This entry was posted on Monday, March 31st, 2008 at 3:55 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

SAN FRANCISCO (MarketWatch) — Lehman Bros. Holdings Inc. said late Monday that it plans to offer 3 million of convertible preferred shares “in response to investor interest.” Lehman also expects to grant the offering’s underwriter an option to purchase up to 450,000 additional preferred shares. It said the proceeds will be used to bolster capital and increase financial flexibility. “We also felt this was the right time as there was a window of opportunity in the market, as we have received significant interest from several key institutional investors, who have been strong supporters of the firm over time,” said Lehman Chief Financial Officer Erin Callan in a statement.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Original post by Forextvblog

This entry was posted on Monday, March 31st, 2008 at 3:55 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.