IC Industries Inc. has called for the redemption of the remaining shares outstanding of its 8 3/4 percent cumulative first preferred stock, series A; 9 1/8 percent cumulative first preferred stock, series A; and 9 1/8 percent cumulative first preferred stock, series B.
The redemption date is Jan. 2, 1986.
Chicago-based IC said that, after sinking fund retirements on Jan. 1, 146,000 shares of the first preferred, series A, will be redeemed at $101.94 a share, and 201,250 shares of the first preferred, series B, will be redeemed at $105.76 a share. The first preferred stock is held by institutional investors.
IC previously redeemed it cumulative convertible second preferred stock. After the upcoming redemption, IC said it will have no preferred stock outstanding. IC has about 51 million common shares outstanding.
