UPS IPO TERMS TO RAISE $4.1 BILLION
United Parcel Service of America Inc. said it will price its initial
public offering at $36 to $42 per share for 109.4 million shares of Class B stock.
The Atlanta-based express package carrier will raise net proceeds of
about $4.1 billion, according to a filing with the Security and Exchange
Commission. UPS has said in its preliminary filing with the SEC that it
would raise $3 billion in the IPO though it did not disclose terms at the
time.
UPS will use the funds for acquisitions and to purchase Class A shares.