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JC Penney Announces Massive Share Offering, Stock Tanks

Sam RoSep 27, 2013, 02:40 IST

J.C. Penney has begun its public offering of 84 million shares, reports Bloomberg.

Shares of the troubled department store chain are down by around 5% following the news.

More to come...

Here's the after-hours action via MarketWatch.com.

MarketWatch