Finance History|Nasdaq MarketSite — Fifteen Dollars for a Quarter of the Iowa Stores
· 1983-10
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Finance History|Nasdaq MarketSite — Fifteen Dollars for a Quarter of the Iowa Stores
kevin
People treat Casey's as an Ankeny convenience chain that always printed CASY on Nasdaq.
The 1983 issuer had just split its private stock 2,900-for-1.
A Schedule 13D later filed by co-founder Donald Lamberti recorded that split in August 1983, immediately before the offering, and pointed back to the Form S-1 filed 31 August 1983 as file 2-82651.
The International Directory of Company Histories records that Casey's offered about one-quarter of its outstanding common shares at 15 dollars a share in October 1983.
Nasdaq-side market data still date the listing to 21 October 1983.
At year-end 1983 the same history counted 191 company-owned and 215 franchised stores in eight states.
Fiscal 1983 sales were given as 188.5 million dollars and net income as 1.8 million dollars in 1983 currency.
Proceeds let the company buy the last store-operating subsidiaries it did not already own and stop issuing new franchises.
The mechanism is a rural Iowa gasoline-and-grocery chain selling a public minority so it could own its stores outright and fund the next counties on the map.
The pin is the public facade of Nasdaq MarketSite at 4 Times Square. Interior studios are not a visitor floor.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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