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AMB Property To Sell 33 Million Shares

Stock quotes in this article: AMB , MS  

SAN FRANCISCO (AP) — AMB Property Corp. announced Tuesday that it plans to sell 33 million shares of its common stock in a public offering.

The industrial real estate developer said it plans to use proceeds from the offering to repay debt. The company also may use some of the proceeds for development activities, property acquisitions and to increase working capital.

AMB plans to grant the underwriters the option to buy up to 4.95 million shares to cover any overallotments. ...

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