Kimco Realty Corp., New Hyde Park, N.Y., has announced a public offering of 2.4 million shares of its common stock.The net proceeds will be used to invest equity capital in Kimco's co-investment programs, for property acquisitions, and for general corporate purposes, the company said. Banc of America Securities LLC is the sole book-running underwriter for the offering. Kimco, a real estate investment trust specializing in shopping centers, has granted the underwriter an option to buy up to 360,000 additional shares of common stock to cover any overallotments. The REIT can be found online at http://www.kimcorealty.com.
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