MGM Grand Plans Share Offering: MGM Grand...
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MGM Grand Plans Share Offering: MGM Grand filed notice at the SEC that it will offer 6 million new shares to finance further remodeling of the Desert Inn and a portion of a new hotel adjacent to the Desert Inn, as well as the refurbishing of certain aircraft. After the offering, 26.9 million shares will be outstanding, with 77% still held by financier Kirk Kerkorian. At recent market prices the offering would be worth more than $110 million.
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