Los Angeles-based real estate company Thomas Properties Group postponed its previously announced public offering of 22 million shares of common stock blaming unfavorable market conditions. The offering was originally announced earlier this week. According to the company's president and CEO James A. Thomas, the reason for postponing the offering is because of the unfavorable current market conditions. "The company's management team and board of directors do not consider the current market price of the company's common stock to be reflective of its inherent value," he said. Thomas Properties Group owns, acquires, develops and manages primarily office, as well as mixed-use and residential properties.
Processing Content
