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BRIEFLY

PSA will sell some of its airline's common stock.

June 04, 1986

Breaking with past practice, the San Diego-based firm said it will sell a portion of its Pacific Southwest Airlines subsidiary to the public through an offering of 3 million shares of common stock that could raise as much as $24.7 million. PSA Inc. hopes to sell the common shares for between $7.25 and $8.25 per share. Even after the offering, PSA Inc. will retain control of the airline through ownership of 74% of the airline's 13.5 million common shares and all of its 13.5 million shares of preferred voting stock.

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