Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

PPL Corp. Announces 9.9 Mln Common Stock Offering - Quick Facts

RELATED NEWS
Trade PPL now with 

PPL Corp. (PPL: Quote) said Monday that it plans to make a registered underwritten public offering of 9.9 million shares of its common stock.

The company said that in conjunction with this offering, the underwriters will be granted an option to purchase up to an additional 1.485 million shares of the its common stock to cover over-allotments, if any.

Subject to certain conditions, all shares will be offered in connection with the execution by the company of the forward sale agreements described below. The company expects the offering close on or about April 13, 2012.

The company said that it plans to use any net proceeds that it receives to make capital contributions to its subsidiaries, to repay short-term debt obligations and for other general corporate purposes.

Morgan Stanley and BofA Merrill Lynch are acting as joint book-running managers for the offering.

In connection with the offering, the company said that it has entered into a forward sale agreement with each of Morgan Stanley & Co. LLC and Merrill Lynch International.

Click here to receive FREE breaking news email alerts for PPL Corporation and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Computer and printer maker Hewlett-Packard Co. said Tuesday after the markets closed that its fourth quarter profit fell 6% from last year, as revenue declined 2%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. This organic and natural products company has experienced strong compounded annual growth over the last four fiscal years with its net sales growing 25% and adjusted income from continuing operations over 30%. Here is a quick summary of the earnings reported after the bell on Nov. 24. 1. Amira Nature Foods Ltd (ANFI) reported net income for the second quarter of $8.3 million or $0.29 per share, compared to $5.0 million or $0.18 per share for the year-ago quarter. Excluding items, adjusted earnings...
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.