When the shares of Britain's Plessey Co. went on the New York Stock Exchange in mid-July, they brought a sunburst of activity that is rare for new issues in today's market. In the majority of trading sessions during the past two weeks. Plessey was first or second on the most active list and moved up from $2.50 to $2.75 a share. Wall Streeters knew that Plessey was a highly profitable but hardly conspicuous manufacturer of telecommunications gear, radar, electronic components and Garrard phonograph equipment. What intrigued investors most was that the company's...
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