OTHER NEWS - Aug. 4, 1992
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Shopping Center Magnate Proposes Public Stock Offering: Real estate magnate A. Alfred Taubman announced plans for a public stock offering that would raise up to $389 million to expand his shopping center management company and retire debt. The filing with the Securities and Exchange Commission proposes issuing 26.8 million shares of common stock in Taubman Centers Inc., with shares selling for between $12.50 and $14.50. The company hopes to start selling the stock in September. Taubman Centers, as managing partner of Taubman Realty Group Limited Partnership, would own interests in 19 shopping centers in 11 states, including California.
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