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In Brief: Revlon

This article was originally published in The Rose Sheet

Executive Summary

Revlon: Begins initial public offering of 7.5 mil. shares of Class A common stock at $24 per share on Feb. 29, the firm said. The stock closed the first day at 27-5/8, trading as high as 29-5/8. Six million of the 7.5 mil. shares will be offered in the U.S. and Canada. The offering is being underwritten by Merrill Lynch and CS First Boston, who have an option to purchase up to 1.1 mil. shares for over-allotments. If all over-allotments are excercised, the company stands to gross $206.4 mil. before underwriting discounts and offering expenses. The offering price is higher than the initial price range of $19-$22 disclosed in an amended prospectus for the company's IPO filed Feb. 5 ("The Rose Sheet" Feb. 12, p. 2). Revlon first announced it would go public Nov. 17...
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