J.C. Penney expects to raise up to $932 mln from share offering
Sept 27 (Reuters) - J.C. Penney Co Inc will raise up to $932 million from a share offering of 96.6 million shares at $9.65 each.
The offering includes a 30-day option for underwriters to buy 12.6 million shares, the company said on Friday.
The retailer's shares fell 6 percent to $9.79 in premarket trading.
The public offering is expected to close on Oct. 1, J.C. Penney said in a statement.