MORGAN STANLEY RAISES UPS IPO PRICE

MORGAN STANLEY RAISES UPS IPO PRICE

   Morgan Stanley Dean Witter has raised the expected price range for
United Parcel Service’s initial public offering this week to between $45
and $47 per share.
   When it goes off this week, likely on Wednesday sources say, the UPS IPO will
be the largest ever in the United States, raising at least $4.9 billion for the
Atlanta-based transportation giant.
   Morgan Stanley has expected UPS shares to begin selling at $36 to $42 a
share, but raised the price range because of higher demand. UPS will sell 10 percent of
the company, roughly 109.4 million shares, to the public.
   Industry observers expect UPS to use some of the proceeds to kick off another
round of global market consolidation in the transportation and logistics industries.