Sears Holdings Corp said it would sell most of its stake in Sears Canada Inc through a rights issue that would raise up to $380 million ahead of the holiday season.Sears Holdings held a 51 percent stake in its Canadian unit as of March 13.Sears Holdings will sell 40 million shares of Sears Canada, after which its stake would fall to about 12 percent, or around 12 million shares.Edward Lampert, Sears Holdings' chief executive and largest shareholder, will exercise his rights in the offering.
Sears Canada Inc. (Sears) is a multi-channel retailer. Shares of SCC fell by 0.27% or $-0.03/share to $11.12. In the past year, the shares have traded as low as $10.11 and as high as $19.89. On average, 16592 shares of SCC.TO exchange hands on a given day and today's volume is recorded at 20608.
Sears Holdings Corporation (Holdings) is a retailer with 2,172 full-line and 1,338 specialty retail stores in the United States operating through Kmart Holding Corporation (Kmart) and Sears, Roebuck and Co. Shares of SHLD fell by 0.2% or $-0.05/share to $25.18. In the past year, the shares have traded as low as $24.10 and as high as $67.50. On average, 1060860 shares of SHLD exchange hands on a given day and today's volume is recorded at 839592.
Source
