Adtran Inc, Huntsville, Alabama manufacturer of high speed digital transmission products for telephone companies and corporate end-users has filed with the US Securities & Exchange Commission to offer 3m shares, of which 500,000 are new. Dean Witter Reynolds Inc, Morgan Stanley & Co Inc, Furman Selz Inc, The Robinson-Humphrey Co Inc and Raymond James & Associates Inc are underwriters.
Planar Systems Inc, Beaverton, Oregon, has filed with the US Securities & Exchange Commission to offer 3m shares owned by Metra Corp and the State Farm Companies Foundation. Metra Corp, of Helsinki, Finland, will sell 2.5m shares, leaving it with 306,942 shares in Planar, State Farm Foundation will sell all of its 479,920 shares. Planar does high performance flat panel and cathode ray display products for medical, industrial, instrumentation, defense, communications, transport and business. Salomon Brothers Inc, Smith Barney Inc, and Needham & Co Inc, are the underwriters for the issue.
