EastGroup Properties, a real estate investment trust based in Jackson, Miss., has reported the sale of 1.25 million shares of common stock to Citigroup Global Markets Inc. for approximately $60 million.The REIT said it plans to use the net proceeds to repay borrowings under its credit facility. EastGroup has granted the underwriter an option to buy up to 187,500 additional shares to cover any overallotments. The REIT can be found online at http://www.eastgroup.net.
EastGroup Prices Stock Offering
September 08, 2006, 2:00 p.m. EDT 1 Min Read
