Business Briefs

Reported by Star-Bulletin staff & wire

Friday, April 2, 1999 sets stock-offering price

WASHINGTON -- set its pending initial public offering at 5.5 million shares with a price range of $11 to $13 a share, Federal Filings Business News reported today. On Feb. 23, the company, an Internet financial news provider, had filed for up to $75 million in common stock but had not detailed terms of the offering. The New York-based company said it plans to use proceeds from the offering to develop new products and expand internationally.

Mitsui O.S.K. to cut 24% of work force

TOKYO -- Mitsui O.S.K. Lines Ltd., one of Japan's top shipping company, will slash about 24 percent of its 2,100-strong work force by March 2001, the company said today.

Mitsui said it will save up tp $50 million by scrapping about 500 jobs from the parent company in the two year period, Bloomberg News reported.

In other news . . .

Bullet WASHINGTON -- Gillette Co. today said its second-largest shareholder, the private investment banking firm Kohlberg Kravis Roberts & Co., plans to halve its stake in the consumer products conglomerate through the sale of more than 25 million shares worth more than $1.5 billion.

Bullet Tokyo's Nikkei stock average shed 37.37 points, or 0.23 percent, closing the week at 16,290.19 points. Yesterday, the index advanced 490.97 points, or 3.1 percent.

See expanded coverage in today's Honolulu Star-Bulletin.
See our [Search] [Info] section for subscription information.

E-mail to Business Editor

Text Site Directory:
[News] [Business] [Features] [Sports] [Editorial] [Do It Electric!]
[Classified Ads] [Search] [Subscribe] [Info] [Letter to Editor]
[Stylebook] [Feedback]

© 1999 Honolulu Star-Bulletin