WASHINGTON (dpa-AFX) - AvalonBay Communities, Inc. (AVB) said Wednesday that it plans to offer about 4.75 million shares of its common stock.
All of the shares of common stock will be offered by the company and will be issued under an existing shelf registration statement.
The company said it expects to use the net proceeds from the offering to fund investment activity, including development, redevelopment and acquisitions and general corporate purposes.
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