Green Bay Packer stock sale opens Tuesday
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Green Bay Packers stock sale begins Tuesday
250,000 shares to be offered at $250 each
Green Bay Press-Gazette
The Green Bay Packers will sell shares in the team beginning Tuesday and plan to offer them for $250 each, the team announced Thursday.
The Packers initially will offer 250,000 shares. They sold about 120,000 shares during the 1997-98 offering, raising $24 million.
“We appreciate the interest that fans have expressed in our fifth stock offering,” Packers President and CEO Mark Murphy said in a written statement. “We are not yet in a position to fully discuss the offering, however, this information will answer some of the initial questions that we’ve received.”
The team said that because of legal considerations it would not discuss the offering until Tuesday morning. The organization did say shares would be available through Feb. 29 online and through the mail. They can be purchased with credit or debit cards.
No one may own more than 200 shares. That includes shares purchased during the 1997-98 offering.
Shares can be purchased only by individuals, including spouses as joint tenants.
The stock sale is open to residents of the United States, Guam, Puerto Rico and the U.S. Virgin Islands. However, shares are not available to residents of Virginia or New Hampshire until regulators in those states approve the sale.
Individuals can buy shares in the name of others and, for example, present them as gifts.
Individuals buying shares will not do so through a stockbroker, so they will not have to open special accounts.
The stock does not pay dividends, does not appreciate in value and cannot be traded.
In August, the Packers announced $143 million in projects to add 7,000 seats to Lambeau Field and make other improvements. Construction will be paid for by the Packers and the Green Bay/Brown County Professional Football Stadium District, and is scheduled for completion before the 2013 season. Proceeds from the stock sale will help pay for the project.
Shareholders vote on directors and other issues at the annual shareholders meeting in July.
The Packers have 112,158 shareholders who own 4,750,937 shares of stock.