Advertisement
YOU ARE HERE: LAT HomeCollections

ORANGE COUNTY BRIEFLY

Hines Makes Weak Wall Street Debut

June 24, 1998|Bloomberg News

Hines Horticulture Inc. had a disappointing Wall Street debut Tuesday as its shares, which fetched $11 on Monday, closed unchanged in first-day trading.

The Irvine-based company is one of the largest commercial nursery operations in North America. On Monday, the company sold 5.1 million shares at $11 each, 21% below the bottom of the expected range of $14 to $16 set by lead underwriter Lehman Brothers Inc.

The offering raised $56.1 million, about a third less than the $81 million originally expected.

Advertisement
Los Angeles Times Articles
|
|
|