Two stock offerings in the news last week gave investors an interesting choice: Coal or diamonds, Conrail or Tiffany?
As part of President Reagan's privatization drive, the Government sold 85% of Conrail, the freight line that hauls everything from coal to cars. The $1.65 billion stock issue, priced at $28 a share, was the largest initial public offering in U.S. history. Wall Street gave the stock a green light: on the first day of trading, Conrail was the Big Board's most active issue. By week's end shares closed at 30 3/4.
For investors more interested in bracelets than boxcars, Tiffany, the...
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