Finance History|11 Wall Street — Eighteen Seventy-Five for an Iowa Furnace Book
· 1999-7
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Finance History|11 Wall Street — Eighteen Seventy-Five for an Iowa Furnace Book
kevin
People treat Lennox as a Richardson climate-control house that always printed LII after a finished New York book.
The 1999 issuer was Lennox International Inc., a maker of heating, ventilation, air-conditioning and refrigeration equipment founded in 1895.
A company release dated 28 July 1999 announced an initial public offering of 8,500,000 common shares at 18.75 U.S. dollars a share in 1999 dollars.
Of those shares, 8,088,490 were sold by the company and 411,510 by selling shareholders.
The company said trading would begin on 29 July 1999 on the New York Stock Exchange under LII.
After the offering the firm expected about 44.7 million shares outstanding.
Proceeds to the company were estimated at 141.4 million U.S. dollars in 1999 dollars, earmarked to repay revolving and term credit.
Morgan Stanley Dean Witter led the underwriting.
The letters LII still open on the New York Stock Exchange.
The mechanism is a 1999 cash initial public offering that opened a long-private furnace book rather than a spin from a listed parent.
The pin is the public Broad Street facade of the 1903 New York Stock Exchange building, the present street marker for the tape that prints LII.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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