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Strategies & Market Trends : Making Money is Main Objective

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To: Softechie who started this subject	1/16/2002 9:20:06 AM
From: Softechie	Read Replies (1) of 2155

Adelphia trades heavy on stock sale By Tomi Kilgore 01/16/2002 08:38 -------------------------------------------------------------------------------- Adelphia Communications is sliding $1.87, or 6.9 percent, to $25.38 in pre-open trading. Volume before the bell is already 2.7 million shares, closing in on the full-day average. The cable television company said it has sold 40 million newly issued shares of common stock to the public at a price of $25.50 a share. In addition, Adelphia said it sold $500 million worth of mandatory convertible preferred stock. The company intends to use the proceeds from the sales to repay subsidiary bank debt and and general corporate purposes.

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