Sanderson Farms Offering 2 Million Shares

Poultry producer Sanderson Farms Inc. is conducting a public offering of 2 million shares of common stock.

The Mississippi-based Sanderson Farms says it will use net proceeds to help finance construction of a new retail poultry complex in Kinston, and a potential new poultry complex that would be located near Goldsboro.

Pending those uses, Sanderson Farms says it may used the proceeds to cut debt and invest in cash and cash equivalents. Some of the invested proceeds may be used as working capital and for general corporate purposes.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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