TRW Automotive Looks To Issue Shares

News : According to Crain's Detroit Business, automotive supplier TRW Automotive Holdings is planning to issue a minimum of 14mn shares that could help raise approximately US$272mn for the company, if the shares are priced at US$20.27, the closing price of the stock on August 7. A senior communications manager stated that the proceeds will be used to primarily pay debts and bolster its balance sheet. The company's stock had attained a 52-week high price of $21.85 per share in August 2008.

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