American Greetings (NYSE: AM) plans to sell a minority interest in its electronic marketing division, americangreetings.com, in an initial public stock offering this fall. The company offered no clues as to how many shares it will offer or how much of the company will go public, though it said it will retain a majority interest. To account for the sale, the company said it expects to take a one-time charge on its balance sheets in the fourth quarter of this year.
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American Greetings Online to Look for Extra Cash
Posted by: Mary Hillebrand June 18, 1999 12:00 AMAmerican Greetings (NYSE: AM) plans to sell a minority interest in its electronic marketing division, americangreetings.com, in an initial public stock offering this fall. The company offered no clues as to how many shares it will offer or how much of the company will go public, though it said it will retain a majority interest. To account for the sale, the company said it expects to take a one-time charge on its balance sheets in the fourth quarter of this year.