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Non-Tech : Steelcase IPO
SCS 16.120.0%Dec 9 3:59 PM EST
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To: Superhawk who wrote (8)2/18/1998 7:21:00 PM
From: DBen  Read Replies (2) of 27
 
Scott:

you wrote:
<< Because price of an equity is significantly influenced by supply of
shares (the so-called float), the share price could drop precipitously
in about six months as 140-million-plus shares enter the float. I have
not had experience with this sort of situation before, so I could be
all wet. Anybody out there know what might happen when locked-
out shares become available for trading? Anybody care to speculate? >>

I have lived in the Grand Rapids, MI area over 46 years. I went to school with the kids of the owners of Steelcase. I believe there are three different families involved. They are very conservative with and quiet about their money. They are old money people. IMHO they are not about to dump their shares on the open market.

Jobs at Steelcase are among the most coveted on this side of the state. They have an excellent reputation here as well as around the world.
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