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Kite Realty Prices Stock Offering, Shares Slump
Stock quotes in this article:
KRG
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INDIANAPOLIS (AP) — Shares of Kite Realty Group Trust plunged Wednesday after the real estate investment trust, which primarily develops shopping centers, priced a stock offering at a steep discount.
The company said early Wednesday that it would offer 25 million shares at a price of $3.20 apiece — 20 percent below the stock's $4 closing price on Tuesday.
Shares dropped 85 cents, or 21.3 percent, to $3.15 in afternoon trading Wednesday. ...
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