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Public Offering: MainPlace/Santa Ana is going public. Sort of.
Urban Shopping Centers Inc., which was formed to operate MainPlace/Santa Ana and other malls owned by Chicago-based JMB Realty Corp., has filed with the federal Securities and Exchange Commission to sell 11.1 million shares of common stock. The company hopes to raise as much as $300 million through the offering. Proceeds of the initial public stock offering will be used to cover operating expenses, to reduce debt and finance development projects. Merrill Lynch & Co. is leading the underwriting group.
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