Shareholders offer 16.5M Express shares (AP)
NEW YORK – Express' largest shareholder and others organisation to sell 16.5 meg shares of the fashion retailer in a open offering.
The substance is worth about $300 meg at the price of Express' have weekday morning.
The programme comes as Express Inc. posted a fourth-quarter acquire that beat Wall Street's expectations.
The retailer's shares jumped 89 cents, or 5 percent, to $18.29 in weekday farewell trading.
Golden Gate Private Equity, Limited Brands and members of direction organisation to offer the shares, according to a restrictive filing Tuesday. Golden Gate owns 42.9 proportionality of the retailer's shares and Limited 14.3 percent.
Express module not obtain some proceeds from the offering.
The retailer also reportable gain income of $48.4 million, or 55 cents a share. Analysts were expecting 48 cents per share.
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