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May 15, 2002

USA: IBC completes secondary public offering

Kansas City-based Interstate Bakeries Corporation (IBC), the largest baker and distributor of fresh baked bread and sweet goods in the US, has completed the underwritten public offering of 7,500,000 shares of its common stock by Tower Holding Company. This included 681,818 shares sold to the underwriters upon the exercise in full of their over-allotment option. IBC did not receive any proceeds from the sale of the shares by Tower, a subsidiary of Nestle Purina PetCare Company. 

Kansas City-based Interstate Bakeries Corporation (IBC), the largest baker and distributor of fresh baked bread and sweet goods in the US, has completed the underwritten public offering of 7,500,000 shares of its common stock by Tower Holding Company.

This included 681,818 shares sold to the underwriters upon the exercise in full of their over-allotment option. IBC did not receive any proceeds from the sale of the shares by Tower, a subsidiary of Nestle Purina PetCare Company. 

The joint lead managers of the offering were Credit Suisse First Boston, Merrill Lynch & Co and JPMorgan.

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