logo
Share SHARE
FONT-SIZE Plus   Neg

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

PPL Corp. (PPL) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
An Illinois woman has filed a lawsuit against Starbucks accusing that the coffee retail giant is misleading customers by "underfilling" its cold beverages. According to the plaintiff, Starbucks is cheating customers by serving cold coffees with too much ice cubes and less coffee than advertised, "often... GNC Holdings Inc. (GNC) Monday said it has commenced a strategic review that could lead to potential sale of the company. Shares of GNC Holdings gained over 4 percent after the vitamins and health supplement retailer said it has hired Goldman Sachs and Wachtell, Lipton, Rosen & Katz to advise on... Workers at a giant construction company in Saudi Arabia have set fire to several company buses amid protests at being laid off and not being paid wages for several months. Employees at the Saudi Binladin Group set fire to company buses and staged demonstrations within the Mecca region in recent weeks after the company, one of Saudi Arabia's largest employers, laid off 50,000 foreign employees.
comments powered by Disqus
Follow RTT