Pacific Enterprises sets $195 million stock offering.

From: Los Angeles Business Journal | Date: May 3, 1993| Author: | Copyright information

Stock price gains as firm trims back to natural gas core

A leaner Pacific Enterprises, the parent company of Los Angeles-based Southern California Gas Co., plans to sell an estimated $195 million stock offering and resume paying dividends to its shareholders.

Pacific Enterprises has nearly completed a plan to divest of non-utility-related business, in an attempt to recover from fiscal troubles which developed several years ago when it diversified into retail and other areas, neglecting its core utility business.

"Once we told people we were a diversified utility holding ...

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