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Carson expects to net $40 mil. from South African subsidiary stock sale.

This article was originally published in The Rose Sheet

Executive Summary

CARSON EXPECTS TO NET ROUGHLY $40 MIL. FROM SOUTH AFRICA public offering of the firm's subsidiary, Carson Holdings, on the Johannesburg stock exchange, Carson, Inc. Chairman and CEO Roy Keith told securities analysts during a conference call April 23. The majority of the proceeds from the offering will be used to build Carson's U.S. business, which has been struggling over the past few quarters. Remaining proceeds, expected to be generated from the offering, will be applied to the South African subsidiary to meet "growth needs for the next several years," Keith explained. Standard Bank in South Africa is expected to handle the transaction. Carson will begin a South African road show in early May to gauge interest in the proposed public offering, Keith noted.

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