ENZON, VESTAR COMPLETE PUBLIC OFFERINGSEnzon Inc. of South Plainfield, N.J., and Vestar Inc. of San Dimas,Calif., on Thursday said they have completed public stockofferings. Enzon sold 3 million shares of common stock at$11.13 per share, grossing $33.4 million. Enzon will have 18.1million shares outstanding. Underwriters Morgan Stanley & Co.Inc. and Robertson Stephens & Co. have an option to purchasean additional 450,000 shares to cover overallotments. Enzonstock (NASDAQ:ENZN) closed at $11.75, up 38 cents, onThursday.
Vestar sold 2 million shares at $7.50, grossing $15 million, andwill have 8.7 million shares of common stock outstanding.Underwriters Alex. Brown & Sons. Inc. have an option to buy300,000 shares to cover overallotments. Vestar stock(NASDAQ:VSTR) closed up 25 cents at $7.75.
DNAP WANTS TO FIELD-TEST CHRYSANTHEMUMS
DNA Plant Technology Corp. of Cinnaminson, N.J., on Thursdaysaid it has filed an application with the U.S. Department ofAgriculture to conduct field tests of its transgenic pure whitechrysanthemum. DNAP expects to begin field tests late thissummer at the same time as its joint venture partner, FlorigeneB.V. of the Netherlands, will begin tests in Europe, said DNAPspokesman Fred Spar.
DNAP developed the transgenic chrysanthemum using its"transwitch" technology in which the addition of a second geneto a plant turns off expression of both the first and secondgene. The annual U.S. market for wholesale cutchrysanthemums is $300 million.
DNAP (NASDAQ:DNAP) also announced that it has received anotice of allowance from the U.S. Patent and Trademark Officefor its first transwitch patent for use of the technology tochange petunia flower color.
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