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Olin in Stock Sell-Off
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Business New Haven
3/18/2002
By: BNH
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NORWALK - Olin Corp. (NYSE: OLN) has agreed to sell 3,302,914 shares of its common stock to Morgan Stanley. Olin expects Morgan Stanley to resell the shares at an initial public offering price of $17.50. Net proceeds from the sale are expected to total approximately $56 million and will provide Olin liquidity and financial flexibility. Net proceeds will be made available for general corporate purposes.
Olin is a North American producer of copper and copper-based alloys, sporting ammunition, and chlorine and caustic soda.
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