Duke Energy Field Services (DEFS), a wholly owned subsidiary ofDuke Energy Corp. and Phillips Petroleum Co., announced thepostponement of an initial public offering of common shares onFriday because of “volatile market conditions.” The company saidshares will be offered to the public when stock market conditionsare more favorable. In the meantime, DEFS will continue to be owned69.7% by Duke Energy and 30.3% by Phillips.
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Phillips, Duke Postpone Field Services IPO
Duke Energy Field Services (DEFS), a wholly owned subsidiary ofDuke Energy Corp. and Phillips Petroleum Co., announced thepostponement of an initial public offering of common shares onFriday because of volatile stock market conditions. The companysaid shares will be offered to the public when market conditionsare more favorable. In the meantime, DEFS will continue to be owned69.7% by Duke Energy and 30.3% by Phillips.
May 29, 2000
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