The funding was to be raised through the sale of convertible notes.

The company said it would also raise $25 million through a private placement of convertible notes.

The shelf filing covers convertible subordinate notes of the company due in 2004.

Stone is issuing the convertible notes without seeking shareholder approval.

Fidelity currently holds a 13 percent stake in the convertible notes.

On Friday, the convertible note closed at $77.

Companies are retiring zero-coupon convertible notes, which were popular in the 80's but now seem less attractive.

In addition, it has $960 million of convertible notes on which annual interest payments total $48 million.

They raised $97 million through selling convertible senior notes in November 2003.

But when certain convertible notes held by the Boeing Company are considered, he comes up with a lower figure.