Rouse -4.3% after secondary offering

|About: Rouse Properties, Inc. (RSE)|By:, SA News Editor

The offering of 7M shares with 1.05M share greenshoe would add more than 16% to the float if the option is taken up in full.

In addition to the usual general corporate purposes, Rouse (RSE -4.3%) intends to use the proceeds to pay off debt taken out to fund the purchase of two enclosed malls last month.