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Technology Stocks : Solectron

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To: leslie wray mackenzie who wrote (281)	1/13/1999 6:33:00 PM
From: Jim Burnham	Read Replies (1) of 493

Solectron to split stock 2-for-1,issue notes MILPITAS, Calif., Jan. 13 (Reuters) - Solectron Corp. said on Wednesday its board of directors has declared a 2-for-1 stock split, and added that it plans to raise about $500 million by issuing notes. The split will be effected on February 24 as a stock dividend of one share of common stock for every one share of held for shareholders of record on February 10. The company also said it plans to raise about $500 million through an offering of convertible senior notes to qualified institutional investors. Proceeds will be used for general corporate purposes, including capital expenditures and to meet working capital needs. Some of the net proceeds also may be used to acquire or invest in complementary businesses or products or to obtain the right to complementary technologies. Wednesday January 13, 5:39 pm Eastern Time

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